Bangladesh scouring for loans amid growing economic woes | Asia | An in-depth look at news from across the continent | DW

Bangladesh recently became the third country in South Asia, after Pakistan and Sri Lanka, to seek financial support from the International Monetary Fund (IMF) this year.

Dhaka is now reportedly also seeking assistance from the World Bank and the Asian Development Bank to overcome the economic challenges it has been facing in recent months.

Prime Minister Sheikh Hasina’s government wrote letters to the two lenders seeking $1 billion (€980 million) each, Bloomberg News reported, citing people familiar with the matter.

This comes after the Daily Star newspaper reported that the country last week knocked on the doors of the IMF seeking $4.5 billion, including for budgetary and balance-of-payment support.

The IMF said Bangladesh wanted to tap the organization’s new Resilience and…

Read the Full Article Here DW

Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

Leave a Reply

Your email address will not be published.

As NFL star joins list of psychedelic-endorsing celebrities, are the drugs FINALLY mainstream?

Terrifying last moments of an elderly couple killed in a Snowy Mountains helicopter crash