The International Monetary Fund (IMF) has pledged to accelerate financial assistance to Bangladesh, providing crucial support for the newly formed interim government’s ambitious reform program, Bloomberg reports.
An IMF team currently in Dhaka for talks with Bangladeshi officials will submit its report to the IMF’s management board next month. The decision to expedite the assistance was announced following a meeting between IMF Managing Director Kristalina Georgieva and Bangladesh’s interim leader, Nobel laureate Muhammad Yunus, on the sidelines of the UN General Assembly in New York.
Yunus, who took over the reins of the nation on August 8th following a student-led uprising that ousted the previous government, had requested an additional $3 billion from the IMF to bolster Bangladesh’s dwindling foreign currency reserves. This additional funding comes on top of the existing $4.7 billion loan program with the Washington-based lender.
The IMF board can either initiate a new lending program for Bangladesh based on the team’s report or provide the additional funds through the existing program, according to Yunus’s office.
During his meeting with Georgieva, Yunus also discussed the six commissions established by his interim government to recommend reforms in crucial areas like the constitution, electoral systems, judiciary, police, the anti-corruption agency, and public administration. These reform panels are slated to commence their work on October 1st and are expected to complete their reports within three months.
“Once a consensus on the reforms is reached and the voter list is prepared, the date for the vote will be announced,” Yunus stated.
