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Bangladesh on hot seat to meet IMF loan targets

Second-tranche reviews loom as pressure grows to boost reserves but also imports

Workers in Dhaka: Some economists say belt-tightening on imports may strangle Bangladesh's industrial development and job creation.   © Reuters

DHAKA -- Bangladesh faces growing pressure to meet targets in its loan agreement with the International Monetary Fund, with key review dates looming.

Already the South Asian country is believed to have fallen short of the minimum foreign reserve criteria for March, set when the IMF approved a $4.7 billion loan in January. An IMF staff mission that visited from late April to early May checked on Bangladesh's progress but could not be assured that the June target would be met.

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