Annual foreign debts can be paid with two months’ remittance: Finance minister

[fallstuff]

Annual foreign debts can be paid with two months’ remittance: Finance minister


Finance Minister AHM Mustafa Kamal has said that it is possible to pay off the entire year's foreign debt of the country with the remittances sent by expatriates in just two months.

"Bangladesh would spend $2.4 billion on foreign debt repayment in the current fiscal year, which would increase to $2.8 billion next fiscal. In the 2023-24 fiscal, $3.3 billion will be spent to pay off foreign debts, and $4 billion the following year," the minister said while comparing Bangladesh with Sri Lanka in a pre-budget discussion held online with newspaper editors and top executives of electronic media on Thursday evening.

"Our expatriates are sending $2 billion to the country this month. With the two-month remittances, it will be possible to meet Bangladesh's foreign debt for the entire year," he said.

Annual foreign debts can be paid with two months’ remittance: Finance minister

Finance Minister AHM Mustafa Kamal has said that it is possible to pay off the entire year's foreign debt of the country with the remittances sent by expatriates in just two months. "Bangladesh would spend $2.4 billion on foreign debt repayment in the current fiscal year, which would increase to...

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[Abu Shaleh Rumi]

Great! Yet our embassy officials in middle east are exploiting our people.

 

[rainbowrascal]

Import ka bill tera baap bharega?

Well atleast they are keeping tabs on future annual debt payments...

 

[Arthur]

That's not a small amount. Monthly remittance inflow of BDT is around $1.5-2 billion. That makes our annual debt repayment around $3-4 billion.

This amount will only increase as more debts matures and debt repayment starts.

 

[BananaRepublicUK]

Annual foreign debts can be paid with two months’ remittance: Finance minister


Finance Minister AHM Mustafa Kamal has said that it is possible to pay off the entire year's foreign debt of the country with the remittances sent by expatriates in just two months.

"Bangladesh would spend $2.4 billion on foreign debt repayment in the current fiscal year, which would increase to $2.8 billion next fiscal. In the 2023-24 fiscal, $3.3 billion will be spent to pay off foreign debts, and $4 billion the following year," the minister said while comparing Bangladesh with Sri Lanka in a pre-budget discussion held online with newspaper editors and top executives of electronic media on Thursday evening.

"Our expatriates are sending $2 billion to the country this month. With the two-month remittances, it will be possible to meet Bangladesh's foreign debt for the entire year," he said.

Annual foreign debts can be paid with two months’ remittance: Finance minister

Finance Minister AHM Mustafa Kamal has said that it is possible to pay off the entire year's foreign debt of the country with the remittances sent by expatriates in just two months. "Bangladesh would spend $2.4 billion on foreign debt repayment in the current fiscal year, which would increase to...

www.google.com

This arrogant twat needs to watch what he says!

We need a Sylheti at the helm of the finance ministry again lol

It’s a given that we Sylhetis take care of the money.

Lol lol

 

[Destranator]

Yes, as if we have no other sources of inflow and outflow of forex. Current account deficit has exceeded $10 billion. He can't fudge his way out of this crisis.
Non-essential imports need to be banned. The wealthy should be taxed to the hilt to decrease reliance on foreign borrowing.

 

[bdslph]

it does not work like that its not tat simple

 

[UKBengali]

Kamal may have said it in a clumsy way but he made a simple point.

BD is nowhere close to defaulting on its debt repayments as it is insignificant to BD financial resources.

Even in 2025 BD would need to pay 4 billion US dollars. That is likely to be just 5% of exports at the time.

Anyone that thinks that BD may end up like either Sri Lanka or Pakistan is just not looking at the facts.

 

[BananaRepublicUK]

Kamal may have said it in a clumsy way but he made a simple point.

BD is nowhere close to defaulting on its debt repayments as it is insignificant to BD financial resources.

Even in 2025 BD would need to pay 4 billion US dollars. That is likely to be just 5% of exports at the time.

Anyone that thinks that BD may end up like either Sri Lanka or Pakistan is just not looking at the facts.

Finance minister of a country cannot come across as a simpleton twat!

What message does this send?!!!

Can you imagine the great Saifur Rahman talking like that?!!!!

 

[UKBengali]

Finance minister of a country cannot come across as a simpleton twat!

What message does this send?!!!

Can you imagine the great Saifur Rahman talking like that?!!!!

No he is not coming across as a simpleton.

He is trying to make clear in a simple way how BD is nowhere close to default.

Clumsy for sure but he made the point for anyone to be able to understand.

 

[bluesky]

Annual foreign debts can be paid with two months’ remittance: Finance minister

Annual foreign debts that BD has to repay with interest will be more that $5 billion per year. Yes, this can be repaid with about 2.5 months worth of remittance.

However, this year the import will reach $85 billion. So, may I ask the Finance minister, how he is going to pay the money in dollar if the country's exports reaches only $55 billion?

Is he sure he can repay the trade deficits with 2 months' remittance?

 

[Destranator]

Finance minister of a country cannot come across as a simpleton twat!

What message does this send?!!!

Can you imagine the great Saifur Rahman talking like that?!!!!

Saifur or Muhit would never say something this stupid.

Kamal should not have been made finance minister. Hasina probably didn't realise that you need expertise in economics to be able to manage this portfolio - a chartered accountant is not necessarily well versed enough in economics. This dude is more keen to "balance" sheets at all costs.

 

[BananaRepublicUK]

Saifur or Muhit would never say something this stupid.

Kamal should not have been made finance minister. Hasina probably didn't realise that you need expertise in economics to be able to manage this portfolio - a chartered accountant is not necessarily well versed enough in economics. This dude is more keen to "balance" sheets at all costs.

Or Kibria - another son of Sylhet.

 

[Wergeland]

Saifur or Muhit would never say something this stupid.

People dont realise how competent guys like them is one of the main reasons Bangladesh has steady economic policies for a long period of time, in spite of political turmoil and gundas roaming around.

 

[Arthur]

People dont realise how competent guys like them is one of the main reasons Bangladesh has steady economic policies for a long period of time, in spite of political turmoil and gundas roaming around.

None of our previous economy ministers were street agitators or cadre of the party. They were simply choosen on the basis of merit by the party founders.

Both Muhit & Kibria was close ally to Bangabandhu & Tajuddin & after that Sheikh Hasina.

Saiful Islam, also FCA-CMA, choosen by Zia.

Muhit, Kibria & Saiful was the best economic minister one could ask for.

Sad thing is there is no such talents among current generation of politicians.

It's a dangerous situation too.