Bangladesh to Tap China for $5 Billion Loan to Boost Economy.

Bangladesh is in talks with China for a $5 billion loan in yuan to boost its foreign-exchange reserves and support its struggling economy. The loan would allow exporters to access financing for raw material imports from China, which currently exceed Bangladesh's exports by more than 10 times. The country's foreign reserves have been declining due to the pandemic's impact on exports and rising commodity prices. Bangladesh hopes that borrowing in yuan will reduce pressure on its balance of payments, although it will eventually have to repay the loan in dollars. [Extracted from the article]