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Bangladesh’s per capita foreign debt now stands at Tk 24,890

bluesky

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Bangladesh foreign debt to reach $95.908 billion soon
Published: September 15, 2021 14:43:09 | Updated: September 15, 2021 14:46:20
Finance Minister AHM Mustafa Kamal
Finance Minister AHM Mustafa Kamal


Finance Minister AHM Mustafa Kamal on Wednesday said the per capita foreign debt of Bangladesh citizens is now Tk 24,890.

The minister revealed this information in parliament while replying to a tabled question from Awami League MP Didarul Alam from Chittagong-4. The finance minister said the current foreign debt now stands at US dollar 49,458 million.

According to the Bureau of Statistics, the total population of the country is 169.31 million. And, in that context, the per capita foreign debt is now 292.11 dollars. If one dollar is equivalent to Tk 85.21, it stands at Tk 24,890, the minister said.

Replying to another query from Didarul Alam, he said the amount of loan agreements with various development partner countries and institutions as of June 30 is $95,908.34 million.

Of the total amount, $59,458 million have been disbursed while $46,450.34 million are under the process of disbursement, he said, reports UNB.
 

Bilal9

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Newset data on external debt rankings here,


This is from Wiki (Bangladesh new data not presented), Look at the external debt as percentage of GDP, which is the key indicator.

List of countries with respect to external debt
RankCountry/RegionExternal debt
US dollars
DatePer capita
US dollars
% of GDP

18
India
5.562×1011​
December 2020[16]
411​
19

54
1.11047×1011​
31 December 2019[50]
525​
43

79
2.5963×1010​
30 June 2016[75]
160​
12
 

bluesky

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last time it was 30-40 i think where they spend 50bn$?
It is $95.908 billion, not $50 billion, in foreign loans, and is the latest figure. I actually thought it is $63 billion. Now I find it will shortly reach near $96 billion. Now, how much money BD needs to repay the arrears is as shown below:

- Consider that the rate of interest is only 2% per annum and the payment period is 25 years

- BD will have to pay annually $154.066 billion at maturity of which the total interest will be $60.158 billion.

- If we divide $154.066 billion by 25 years, the average annual repayment figure is $6.163 billion.

If some talented BD patriot thinks I am overestimating the repayment figure at $6.163 billion per year, I ask him/ her to go to a Senior Accountant in a Bank and prove me wrong.

Please note that last year the GoB borrowed $7 billion but paid back $1.93 billion. This year, probably the amount of payment will be $2.5 billion. The repayment figure will keep on increasing as many of the loans get matured.

A day is soon coming when BD will borrow only to repay the arrears. And a day will come within 8 years when the country will default in repayment.

Bangladesh is trying to build an economic castle in the sky. Very sad our entire future has been ruined by this "borrow huge and spend" mindset as if there is no tomorrow.

Now, only a bleak tomorrow is waiting for us.
 
Last edited:

bluesky

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Newset data on external debt rankings here,


This is from Wiki (Bangladesh new data not presented), Look at the external debt as percentage of GDP, which is the key indicator.

List of countries with respect to external debt
RankCountry/RegionExternal debt
US dollars
DatePer capita
US dollars
% of GDP

18
India
5.562×1011​
December 2020[16]
411​
19

54
1.11047×1011​
31 December 2019[50]
525​
43

79
2.5963×1010​
30 June 2016[75]
160​
12
Finance Minister told yesterday the latest figure and wiki figure is older. Do not worry. When the Taka falls to $1 = Tk120, the fictitious GDP becomes lower than that of Pakistan and the percentage of foreign borrowing goes up.

The reality is BD has borrowed more than $95 billion. Why do you still overdream and as always try to give a colorful picture without admitting that BD has not developed with Rooppur or Padma Bridge?

Only industries can build economic power. This is what I have been telling for many years. Now, you guys will see how BD falls into a dispaired situation struggling to repay the foreign debts.

BD has already reached the point of no return. With money only to repay loans, It no more can build industries, although you will be keeping yourself busy sending many beautiful factory photographs as always.

After all, you guys are all real patriots.
 

DalalErMaNodi

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Complete non-issue in case of Bangladesh.. Thread title and article header deliberately changed to flamebait and paint a bleaker picture than in reality.


Alot of those of 95 Billion worth of loans are in different stages of repayment, so a static figure is irrelevant without more data.
 

bluesky

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Newspapers are not fathers of our nation that I have to follow their wrong news titles that do not reflect the contents. I ask all the BD delusional guys including that @UKBengali to read through the news to find the soon-to-be foreign debt figure to be $95.908 million.

This is a dangerous figure repayment of which will be more than $6 billion every year after maturity.

Even with $10 trillion foreign borrowings, a country cannot really develop unless its own people develop the country. BD has to industrialize. But, now even the strength is gone because every year BD will have to repay more than $6 billion per year to the creditors.
 

UKBengali

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It is $95.908 billion, not $50 billion, in foreign loans, and is the latest figure. I actually thought it is $63 billion. Now I find it will shortly reach near $96 billion. Now, how much money BD needs to repay the arrears is as shown below:

- Consider that the rate of interest is only 2% per annum and the payment period is 25 years

- BD will have to pay annually $154.066 billion at maturity of which the total interest will be $60.158 billion.

- If we divide $154.066 billion by 25 years, the average annual repayment figure is $6.163 billion.

If some talented BD patriot thinks I am overestimating the repayment figure at $6.163 billion per year, I ask him/ her to go to a Senior Accountant in a Bank and prove me wrong.

Please note that last year the GoB borrowed $7 billion but paid back $1.93 billion. This year, probably the amount of payment will be $2.5 billion. The repayment figure will keep on increasing as many of the loans get matured.

A day is soon coming when BD will borrow only to repay the arrears. And a day will come within 8 years when the country will default in repayment.

Bangladesh is trying to build an economic castle in the sky. Very sad our entire future has been ruined by this "borrow huge and spend" mindset as if there is no tomorrow.

Now, only a bleak tomorrow is waiting for us.

Dude...

Are you aware that BD government revenues has been growing at 15% a year on average over the last decade?

Last fiscal BD collected no less than 40 billion US dollars in revenues from both tax and non-tax sources.

When the likes of Roopur nuclear power plant are due to start repayments in 2027, then BD government revenues will hit around 100 billion US dollars a year.

Like I have already suggested, please find yourself a high-school GCSE mathematics book and start studying hard!
 
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EasyNow

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Finance Minister told yesterday the latest figure and wiki figure is older. Do not worry. When the Taka falls to $1 = Tk120, the fictitious GDP becomes lower than that of Pakistan and the percentage of foreign borrowing goes up.

The reality is BD has borrowed more than $95 billion. Why do you still overdream and as always try to give a colorful picture without admitting that BD has not developed with Rooppur or Padma Bridge?

Only industries can build economic power. This is what I have been telling for many years. Now, you guys will see how BD falls into a dispaired situation struggling to repay the foreign debts.

BD has already reached the point of no return. With money only to repay loans, It no more can build industries, although you will be keeping yourself busy sending many beautiful factory photographs as always.

After all, you guys are all real patriots.
You can wake a person from sleep but you can't wake a person pretending to be asleep.

You keep repeating the same ideas even though they're refuted every time.

You are comparing projections with actual debt. $49b is the actual debt. Pulling down project funding takes years - when the $95b actually accrues in future, you should examine the situation at that time.

Why are you counting the cost of debt when you have not received the benefit yet?


Anyway, even if we go by your logic. BD debt per capita is $292 per person today and this will grow to nearly double in the future - around $580. Lets ignore that BD population and GDP will likely grow in that time too making this figure smaller proportionally.

Do you know the debt per capita in Japan (where you live)? $96000.

BD debt to GDP ratio is 36%, Japan's is nearly 235%.

You always say the Japanese are intelligent, hard working people so did they go mad to take up so much debt? Or maybe debt is necessary to grow in the 21st century economy?


 

bluesky

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Are you aware that BD government revenues has been growing at 15% a year on average over the last decade?

Last fiscal BD collected no less than 40 billion US dollars in revenues from both tax and non-tax sources.
Can you tell me if the GoB collects revenues in US dollars or in BD Taka?
You are comparing projections with actual debt. $49b is the actual debt. Pulling down project funding takes years - when the $95b actually accrues in future, you should examine the situation at that time.

Why are you counting the cost of debt when you have not received the benefit yet?
Why are you asking me this question when the Finance Minister himself has projected $95.6 billion debt within a short period? So, please ask him why did he have to state anything future when you personally do not like it? The FM must have respected your great objection on announcing a figure that has already been counted by the govt.

But why do you object to the $95.6 billion loan figure? Is it false? Read the news and tell me. But, be very objective instead of going around the issue.

Better you learn something about the national economic development to know that not one country has developed BD or Pakistan style. If I am incorrect, pray tell me which country developed by borrowing from foreign Jewish-controlled Institutions? Just which is that one country?
 

UKBengali

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Can you tell me if the GoB collects revenues in US dollars or in BD Taka?
BD gets more than 50 billion US dollars every year from exports and remittances.
It’s foreign reserves have swelled to a similar amount.

BD is by far the least stressed debtor in the whole of the sub-continent.

Stop creating drama where none exists.

Now please tell us why you seem to know more about the BD economy than eminent economic forecasters like IMF, ADB, World Bank and the UK’s CEBR?
 

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