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Economy

IMF visits Bangladesh as short-term debt adds to reserve fears

Forex coffers at lowest level in over two years, expected to shrink further

Vendors light candles at a market in Dhaka during a blackout in early October. The government's energy adviser recently said the power problems are "all about foreign exchange."   © AP

DHAKA -- A team from the International Monetary Fund started loan talks in Bangladesh on Wednesday as the country faces growing pressure on its foreign reserves and fears over its ability to manage its debts.

Bangladesh is the third South Asian country to look to the IMF for support this year, after Sri Lanka and Pakistan. The fund said its team will stay until Nov. 9 "to start discussions with the Bangladeshi authorities on economic and financial reforms and policies."

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