Recently the IMF approved a $4.7-billion support loan package for which country that has become the first Asian country to receive financing under RSF?

Solution

The International Monetary Fund (IMF) Executive Board approved a total of USD 4.7 billion loan for Bangladesh. It includes USD 3.3 billion under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) and USD 1.4 billion under the Resilience and Sustainability Facility (RSF) for Bangladesh.The fund will be disbursed to Bangladesh over a period of 42 months to support Bangladesh’s economic policies. Bangladesh is the first country in Asia to receive financing under the RSF. About IMF The International Monetary Fund is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Formation:  27 December 1945                                 Managing Director:  Kristalina Georgieva