Last Updated on March 30, 2026 4:54 pm by INDIAN AWAAZ
Zakir Hossain from Dhaka
Bangladesh is seeking around $2 billion in additional balance of payments support from multilateral lenders, including the IMF, as rising emergency energy purchases put pressure on external payments, central bank governor Mostaqur Rahman said.
The move comes as oil prices have surged following Iran’s effective closure of the Strait of Hormuz, a vital route for nearly one-fifth of global oil trade. Brent crude closed 4.2% higher at $112.57 a barrel on Friday (March 27), up from $72.48 a barrel a month earlier, just before the US-Israel war on Iran began.
Bangladesh imports 95% of its oil and 30% of its gas, with suppliers such as Saudi Arabia and Qatar among its main sources. The country spends over $10 billion a year on petroleum and energy imports.
“We are providing the government with ideas about various potential impacts of oil price increases,” Mostaqur said at a meeting with journalists at Bangladesh Bank (BB).
He said the central bank was calculating the impact on foreign exchange reserves under different oil price scenarios. “For example, if the price of oil is $210, the impact will be one type; if it is $150, it will be different; and if it is $100, the result will be different again. We are informing the government of these calculations,” he said.
Mostaqur said discussions were under way over securing about $2 billion in BoP support. Bangladesh resumed talks with an IMF delegation in Dhaka on March 24-25 on the stalled $5.5 billion loan programme approved in January 2023. The country could receive a $1.3 billion tranche by June if it carries out key reforms. Two instalments released together last June took total disbursement so far to $3.6 billion.
“The matter of obtaining additional assistance from the IMF is also under consideration, although no formal discussions have taken place yet,” Mostaqur said, adding that support from the Asian Development Bank and other sources was also being explored.
Appointed last month, Mostaqur said Bangladesh was trying to ensure energy security and reduce costs. “The situation is changing rapidly, sometimes there is talk of a ceasefire, and then again, fears of new conflict arise. Therefore, efforts are being made to take necessary decisions by constantly monitoring the situation and coordinating with all relevant parties.” “Our goal is only one: to keep the economy relatively stable even in this uncertain situation,” he said.
He added: “Especially on the exchange rate issue, we have to remain cautious. The BB is also not going to reduce the policy rate.”