<p>An International Monetary Fund (IMF) delegation will visit Bangladesh next week for talks over a loan programme, the IMF and officials said on Friday, after the country became the third in South Asia to seek such support.</p>.<p>It is battling rising prices of energy and food worsened by the war in Ukraine, and dwindling foreign exchange reserves are forcing it to turn to global lenders.</p>.<p>The IMF delegation will visit from October 26 to November 9 to start discussions on economic and financial reforms and policies, the IMF said in statement.</p>.<p>"The objective is to make progress towards a staff-level agreement" on funding in the coming months, including a long-term credit line specifically aimed at helping build resilience against climate risks in countries highly vulnerable to climate change, it said.</p>.<p>Finance ministry officials have said Bangladesh is seeking a $4.5 billion loan from the IMF.</p>.<p>Bangladesh's foreign exchange reserves declined to $35.98 billion as of October 19 from $46.19 billion a year ago, according to data from the central bank, providing import cover of just five months.</p>.<p>The country's economic mainstay is its export-oriented garments industry, which is bracing for a slowdown as key customers like Walmart are saddled with backlog as inflation forces people to prioritise essentials.</p>.<p>After garments, remittances are the second highest source of foreign currency for Bangladesh, a country of 165 million people.</p>.<p>It is also seeking loans from other lenders, including the World Bank.</p>.<p>Sri Lanka and Pakistan are the other two South Asian countries to have sought IMF support this year.</p>
<p>An International Monetary Fund (IMF) delegation will visit Bangladesh next week for talks over a loan programme, the IMF and officials said on Friday, after the country became the third in South Asia to seek such support.</p>.<p>It is battling rising prices of energy and food worsened by the war in Ukraine, and dwindling foreign exchange reserves are forcing it to turn to global lenders.</p>.<p>The IMF delegation will visit from October 26 to November 9 to start discussions on economic and financial reforms and policies, the IMF said in statement.</p>.<p>"The objective is to make progress towards a staff-level agreement" on funding in the coming months, including a long-term credit line specifically aimed at helping build resilience against climate risks in countries highly vulnerable to climate change, it said.</p>.<p>Finance ministry officials have said Bangladesh is seeking a $4.5 billion loan from the IMF.</p>.<p>Bangladesh's foreign exchange reserves declined to $35.98 billion as of October 19 from $46.19 billion a year ago, according to data from the central bank, providing import cover of just five months.</p>.<p>The country's economic mainstay is its export-oriented garments industry, which is bracing for a slowdown as key customers like Walmart are saddled with backlog as inflation forces people to prioritise essentials.</p>.<p>After garments, remittances are the second highest source of foreign currency for Bangladesh, a country of 165 million people.</p>.<p>It is also seeking loans from other lenders, including the World Bank.</p>.<p>Sri Lanka and Pakistan are the other two South Asian countries to have sought IMF support this year.</p>