In March of this year, Bangladesh failed to meet the International Monetary Fund’s (IMF) requirement for maintaining net or real foreign exchange reserves, as per sources from Bangladesh Bank. The IMF stipulated an expected reserve of $19.26 billion, but the actual reserve fell short, remaining below $15 billion. Bangladesh previously missed reserve targets in September and December 2023, leading to a revised target that was also unmet by March. Real reserves include IMF’s SDR sector, dollars in foreign currency clearing accounts, and those deposited for the Asian Clearing Union (ACU) bill. Bangladesh sought IMF assistance in July 2022 amidst financial account and current account deficits, receiving a $4.7 billion loan in January 2023. IMF conditions require achieving specific reserve targets, which Bangladesh has struggled to meet, prompting ongoing discussions with the IMF. Despite efforts, the revised target was not met by the end of March. Bangladesh Bank declined to disclose specifics about reserve requirements but stated readiness to engage with the IMF team upon their visit to Dhaka.
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