IMF and World Bank assure additional support to tackle economic pressure

Staff Reporter: PNN

The International Monetary Fund (IMF) and the World Bank have assured Bangladesh of additional financial support beyond regular budget assistance to help cope with economic pressures stemming from ongoing conflicts in the Middle East.

Finance Minister Amir Khasru Mahmud Chowdhury shared this information after meetings with senior officials of the two organizations on the sidelines of their Spring Meetings in Washington, DC. He is leading an 11-member delegation.

Sources said Bangladesh may receive around $2 billion in emergency assistance by June. Discussions with both organizations have been positive.

The meetings were attended by IMF Executive Director Urjit Patel and World Bank South Asia Vice President Martin Raiser, among others.

The finance minister said global economic pressure and Middle Eastern conflicts have added strain to Bangladesh’s economy. Discussions focused on joint efforts with development partners to address these challenges.

He also indicated the possibility of additional support under the ongoing IMF loan program, alongside regular disbursements.

Bangladesh is currently under a $5.5 billion IMF loan program. Additionally, IMF has announced a $50 billion emergency fund for developing countries, while the World Bank has pledged $25 billion.