The country’s net reserve now stands at $16 billion, surpassing the $14.7 billion target set for June by the International Monetary Fund (IMF), said the Bangladesh Bank (BB).

However, the gross foreign currency reserve has stood at $26.815 billion, but as per the Balance of Payments and International Investment Position Manual (BPM6), the amount stood at $21.838 billion, it said.

Bangladesh surpassed the IMF target for the first time since the multilateral lender’s $4.7 billion loan package was approved in February last year.

bd-pratidin/GR