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Economy

Bangladesh seeks IMF lifeline after record stimulus package

Cash infusion may not be enough to cushion blow from COVID-19 crisis

Women carry relief supplies provided by local authorities amid the coronavirus outbreak in Dhaka on April 2.   © Reuters

DHAKA -- Bangladesh is seeking $700 million in financial backing from the International Monetary Fund after rolling out its biggest-ever stimulus package. The government hopes the move will prevent the coronavirus pandemic from ravaging its trademark macroeconomic stability.

"We are currently assessing the government's request to the IMF for emergency financing," Ragnar Gudmundsson, the fund's representative in Dhaka, told the Nikkei Asian Review.

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