DHAKA :Bangladesh has asked the International Monetary Fund to start negotiations for a loan, the finance minister told the Prothom Alo newspaper, while adding that the economy was"no way in trouble".
"The IMF was requested to start a formal negotiation to obtain loans for balance of payments and budget assistance," Kamal said in the Prothom Alo report published on Wednesday. Bangladesh's Daily Star newspaper reported on Tuesday that the country wanted $4.5 billion from the IMF. Bangladesh's economic mainstay is its export-oriented garments industry, which could suffer if sales fall in its main markets in Europe and the United States because of a slowdown in the global economy. After garments, remittances are the second highest source of foreign currency for Bangladesh.
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