The TBH Desk
Bangladesh’s gross foreign currency reserves stand at $25.82 billion after the country received loan funds from the International Monetary Fund (IMF) and Asian Development Bank (ADB).
But, as per the BPM6, the gross reserves stand at $20.4 billion, said Bangladesh Bank spokesman Executive Director Mejbaul Haque.
On Dec 7, Bangladesh’s gross reserves, according to the BPM6, stood at $19.13 billion. However, the central bank’s estimates put it at $24.66 billion.
Then, on Dec 15, the IMF released the second tranche of $682 million from its $4.7 billion loan deal while the ADB added another $400 million.
Bangladesh, under pressure from global headwinds, has taken many policy measures to bolster its economy. As part of those efforts, the Bangladesh Bank has provided dollar support to the market from its forex reserves.
This led to reserves dwindling over time. From August 2021, when reserves stood at an impressive $48 billion, it had fallen to $19 billion in November.