Bangladesh's net forex reserves stand at $16 billion presently, according to the Bangladesh Bank (BB).
"Surpassing the $14.7 billion target set by the International Monetary Fund (IMF), Bangladesh's net forex reserves stand at $16 billion presently," BB Spokesperson Md Mezbaul Haque told media on Tuesday (2 July).
Net reserve, which represents readily available cash from the gross reserves, is calculated excluding short-term liabilities from the gross reserve as per the IMF formula based on the Balance of Payments and International Investment Position Manual (BPM6).
This is the first time Bangladesh has surpassed the IMF target since the multilateral lender approved a $4.7 billion loan package in February last year.
Gross reserve in the country as of 30 June was $21.83 billion.
According to the IMF, in April, the net reserve in Bnagladesh fell below the threshold to $12.8 billion from $19.6 billion at the end of June 2023.
Inflow of $2 billion loans, of which $1.15 billion from IMF and $900 million from other sources as budget support, helped Bangladesh to cross the IMF's net reserve target.
