Dhaka, May 14 -- The International Monetary Fund (IMF) has agreed to disburse the next two instalments of its $4.7 billion loan programme to Bangladesh, totalling $1.3 billion, following a breakthrough in discussions regarding foreign exchange reforms.

The release, previously in doubt due to disagreements over the adoption of a more flexible exchange rate system, is now scheduled for June,pending final approval by the IMF Executive Board.

Bangladesh Bank sources confirmed that a press conference will be held on Wednesday to announce the development, with Governor Dr. Ahsan H Mansur expected to join virtually from Dubai to provide further details.

The funds had been withheld due to differences over the central bank's commitment to imple...