HomeLoansIMF says it is working with Bangladesh on RST loan with 'safeguards'

IMF says it is working with Bangladesh on RST loan with ‘safeguards’

By David Lawder

WASHINGTON (Reuters) -The International Monetary Fund said it would work with Bangladesh to design a loan program request in coming months that meets the country’s economic and social dynamics and has “safeguards” in the event of a further deterioration in economic conditions.

In a revised statement of support for Bangladesh’s request for a loan from the new IMF Resilience and Sustainability Trust, the Fund said that work on an RST loan will proceed as the new trust is being made operational. It also said it will work with Dhaka to design an IMF-supported reform program that would be required for the loan.

The Fund said in a statement that the amount of support that can be provided to Bangladesh has “not yet been discussed – it will be part of the program design discussions.”

Dhaka’s Daily Star newspaper reported last week that the finance ministry was seeking $4.5…

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