Dhaka: Due to the Ukraine-Russia war, the Bangladeshi currency has fallen by 25 percent against the dollar since last May. As a result, the prices of petrol, diesel and electricity have risen sharply. There are 13 hours of power cut every day because of inability to pay for electricity.
The country’s government has reported that inflation has increased to 8.7 percent. In this situation, Bangladesh has requested international countries and organizations to provide financial assistance to overcome the economic crisis. The International Fund (IMF) has agreed to give a loan of Rs.38 thousand crores to Bangladesh. .
According to this, a loan of Rs.3,800 crore will be given to Bangladesh in the first phase. Bangladesh plans to increase foreign exchange reserves with loan amount. It is noteworthy that Bangladesh’s foreign exchange reserves decreased from Rs.3.77 lakh crore to Rs.2.95 lakh crore.
Like Bangladesh, the governments of Pakistan and Sri Lanka, which are in dire economic straits, have requested the IMF to provide loans.
Note that this request is still pending.
