Bangladesh is going to fulfil the International Monetary Fund’s condition on foreign exchange reserves in June on the back of record budget assistance from global creditors, the first time since the IMF approved its $4.7 billion loan programme more than a year ago.

The International Monetary Fund yesterday approved the third tranche of $1.15 billion loans in a boost to Bangladesh’s foreign exchange reserves.

Bangladesh may receive $1.15 billion in the third instalment of the International Monetary Fund’s (IMF) loan in the last week of June, which will give a much-needed relief to the country’s dwindling foreign exchange reserves.

The latest proposal was made to the IMF’s visiting mission yesterday during a joint meeting with officials of the finance division and central bank at the finance ministry in Dhaka.

During its visit to Dhaka, the International Monetary Fund’s review mission will focus on Bangladesh’s foreign exchange reserves, inflation rate, banking sector, and revenue reforms.

The minimum net international reserves (NIR) will also remain below the threshold when an IMF mission visits Dhaka next week to review the progress of the programme before releasing around $681 million in the third tranche in May.

Bangladesh is likely to receive the third tranche of the International Monetary Fund’s $4.7 billion loan as the country has met almost all conditions, said Finance Minister Abul Hassan Mahmood Ali yesterday.