Bangladesh to hold talks with IMF after applying for bailout

Dhaka is understood to be seeking $4.5bn rescue package after being hit by high import costs and falling exports

Bangladesh is to hold talks with the International Monetary Fund after applying for a bailout to prevent the country running out of cash.

The government in Dhaka - the third in south Asia to seek a financial rescue package from the IMF after Pakistan and Sri Lanka - is understood to want $4.5bn (3.7bn) after it was hit hard by high import prices, especially for gas, and a fall in exports as the global economy slowed down.