IMF agrees $987 million loan package for Bangladesh

The International Monetary Fund on Wednesday announced a nearly billion dollar loan package to reform Bangladesh's ailing economy. Under the three year deal worth $987 million, Bangladesh will embark on wide-reaching structural reforms to get its economy back on track and ease long-term poverty.
Battered by inflation, budget problems and a painful trade deficit, the country has plunged toward fiscal crisis during the past year. Meanwhile government fuel subsidies - worth as much as $3.4 billion this year - have helped the poor but decimated the country's budget and forced the authorities to borrow from private banks.