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Economy

IMF board approves $4.7bn support program for Bangladesh

Fund says 42-month package 'will help preserve macroeconomic stability'

The IMF's board in Washington approved a support program for Bangladesh worth $4.7 billion.   © Reuters

(Reuters) -- The International Monetary Fund on Monday said its executive board approved a support program for Bangladesh worth $4.7 billion at current exchange rates, making the South Asian country the first to access its new Resilience and Sustainability Facility (RSF).

The funding includes $3.3 billion under the IMF's Extended Credit Facility and Extended Fund Facility programs and $1.4 billion under the new RSF, which aims to help vulnerable middle-income countries and island states.

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