Reluctance to disclose the names of the defaulters
In the latest data released by Bangladesh Bank, the magnitude of defaulted loans within the banking sector has reached an unprecedented high, standing at Tk 1,82,295 crores as of the end of March 2024. This marks a significant increase from Tk 1,45,633 crores recorded just three months earlier. The
Bangladesh Faces Escalating Foreign Debt Crisis
Bangladesh finds itself in the grip of a mounting foreign debt crisis, exacerbated by the recent surge in the cost of borrowing and the appreciation of the US dollar. As the nation struggles to manage its burgeoning debt obligations, experts warn of dire consequences for the economy unless decisive measures are taken. The latest figures reveal a grim reality: Bangladesh's foreign debt has soared past the 10 thousand crore (100 billion) dollar mark, marking a threefold increase from previous periods. Alarmingly, debt repayment obligations have also surged, with a staggering 67 percent rise
Decline in Foreign Exchange Reserves to $18 Billion
The country's foreign exchange reserves have experienced a significant decline, reaching $18 billion. This decrease follows the clearance of outstanding debts to the Asian Clearing Union (ACU) amounting to $1.6 billion for the months of March and April. While the repayment of debts affects the immediate reserve balance, the upcoming receipt of the third tranche of the IMF loan is anticipated to bolster reserves once again. The recent decline in foreign exchange reserves can be attributed to the repayment of outstanding debts to the Asian Clearing Union (ACU) totaling $1.6 billion for the
