• Bangladesh
• Foreign exchange reserves now $23.57bn as per IMF formula.

Foreign exchange reserves now $23.57bn as per IMF formula

Foreign exchange reserves now $23.57bn as per IMF formula

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• Bangladesh

Bangladesh Bank (BB) has finally accepted the formula prescribed by the International Monetary Fund (IMF) in calculating foreign exchange reserves that stood at $23.57 billion on Thursday.

However, according to the Bangladesh Bank's calculations on Wednesday the reserve was $29.97 billion. One of the conditions for the IMF's $4.7 billion loan to Bangladesh was to release the reserve account by June as per a model called BPM-6 (Balance of Payments and International Investment Position).

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