Net reserve now $16.77b surpassing IMF target The country’s net foreign exchange reserves increased to $16.77 billion at the end of June, surpassing the $14.7 billion target set by the International Monetary Fund (IMF) as a condition of the $4.7 billion loan package. The net reserve amount, which had dipped
Read MoreRemittance hit $24b in FY24, highest in three years After hovering around the $21-billion mark for the previous two fiscal years, total remittances sent home by Bangladesh’s migrant workers reached nearly $24 billion in the just concluded fiscal year of 2023-24, providing some breathing space amid the forex crunch. As
Read MoreBangladesh’s forex reserves cross $27b Bangladesh’s foreign exchange gross reserves have crossed $27 billion as the International Monetary Fund (IMF) and other lenders have provided the country with $2.25 billion in loans in recent days, the central bank claimed on 28 June. Bangladesh started to follow the forex reserves calculation
Read MoreRMG export to EU rises by 2% in 11 months Garment export to the European Union (EU) rose by 2 percent year-on-year to $21.64 billion in the July-May period of the current fiscal year. Shipments to Spain, France, Netherlands, Poland and Denmark grew by 6.23 percent, 1.02 percent, 16.27 percent,
Read MoreIMF sets 33 conditions for next two loan instalments Bangladesh will have to comply with 33 new conditions by June next year in order to receive the next two instalments under the International Monetary Fund’s $4.7 billion loan programme. It came as the lender approved the third tranche of $1.15
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