WASHINGTON: The IMF said Wednesday it is prepared to help Bangladesh with an aid program to face the current economic crisis, as well as financing for longer-term challenges.

Authorities in the South Asian nation last week requested funding from the International Monetary Fund to allow it to ride out a financial shock triggered by volatile global energy prices sparked by the Russian invasion of Ukraine.

Bangladesh has experienced lengthy blackouts in recent weeks, sometimes for up to 13 hours a day, as utilities struggle to source enough diesel and gas to meet demand, which has sparked protests in which dozens were injured and two killed.

The power shortfalls have been compounded by a depreciating currency and dwindling foreign exchange reserves.