The former government left a lot of debris in its wake that needs to be cleaned up.
Following the fall of the Awami League government, efforts are underway to explore ways to bring back the stolen wealth.
Per capita foreign debt of Bangladesh more than doubled in the last eight years, according to official data, as economists attribute the hike to unplanned foreign-funded projects and corruption, ultimately ballooning the liability on low-income people, including the extremely poor.
Although foreign aid commitments made by global lenders to Bangladesh surged more than 600 percent in July-September of the current fiscal year, the disbursement declined.
Bangladesh’s overall external debt stock nearly hit the $100-billion mark in June driven by increasing appetite for funds from both public and private sectors, central bank figures showed. .The debt buildup, which still within the threshold recommended by the International Monetary Fund
Short-term private sector foreign debt has continued to fall since January of this year, with new disbursements being outweighed by repayments each month this year except May.
The former government left a lot of debris in its wake that needs to be cleaned up.
Following the fall of the Awami League government, efforts are underway to explore ways to bring back the stolen wealth.
Per capita foreign debt of Bangladesh more than doubled in the last eight years, according to official data, as economists attribute the hike to unplanned foreign-funded projects and corruption, ultimately ballooning the liability on low-income people, including the extremely poor.
Although foreign aid commitments made by global lenders to Bangladesh surged more than 600 percent in July-September of the current fiscal year, the disbursement declined.
Bangladesh’s overall external debt stock nearly hit the $100-billion mark in June driven by increasing appetite for funds from both public and private sectors, central bank figures showed. .The debt buildup, which still within the threshold recommended by the International Monetary Fund
Short-term private sector foreign debt has continued to fall since January of this year, with new disbursements being outweighed by repayments each month this year except May.
