Bangladesh: Requests for Disbursement under the Rapid Credit Facility and Purchase under the Rapid Financing Instrument

Originally published in imf.org on 3 June 2020

The COVID-19 pandemic is expected to severely affect the Bangladeshi economy. Remittance inflows have already started to decline in March. Exports also declined sharply in April with cancellation of several billion USD orders for the Ready-Made Garment industry. As a result, an immediate external financing gap of about USD 2.9 billion has emerged along a fiscal financing gap of about USD 2.8 billion.