Bangladesh becomes a lender for first time

[Destranator]

I never thought I'd see this day. Wow.

Sri Lanka has been a good neighbor and it never hurts to support a decent neighbor in need. I also think the risk is minimal and worth it. They are in danger of defaulting for now but Sri Lanka will be back one day.

It's a $200 million fund to be released by BB over one year and have to be paid back by SL within 3 months at a 2% interest rate.
Hardly any help. Wonder why we are being such dicks over $200 million.
Even the US does not attach such strings. Worst case we lose $200 million out of $44 billion. Big deal!

 

[mb444]

It's a $200 million fund to be released by BB over one year and have to be paid back by SL within 3 months at a 2% interest rate.
Hardly any help. Wonder why we are being such dicks over $200 million.
Even the US does not attach such strings. Worst case we lose $200 million out of $44 billion. Big deal!

I would say $200m is a big deal given we run a deficit budget every year.

Srilanka is not a good neigbour, they supported the burmese on the rohingya issue and are currently carrying out anti-muslim policies.

We should not have lent to them a penny.

 

[UKBengali]

I would say $200m is a big deal given we run a deficit budget every year.

Srilanka is not a good neigbour, they supported the burmese on the rohingya issue and are currently carrying out anti-muslim policies.

We should not have lent to them a penny.

Well I take back my earlier comment as not aware that they supported the savages on Rohingya - not sure if it is a Buddhist-brotherhood thing.

 

[Destranator]

I would say $200m is a big deal given we run a deficit budget every year.

Srilanka is not a good neigbour, they supported the burmese on the rohingya issue and are currently carrying out anti-muslim policies.

We should not have lent to them a penny.

No one likes us Muslims for various reasons. It's a given.
If we start formulating foreign relations on that basis, we would not be left with any friends.

Well I take back my earlier comment as not aware that they supported the savages on Rohingya - not sure if it is a Buddhist-brotherhood thing.

Lankan Budhist monks were supportive of Burma but not sure about the SL govt

 

[Destranator]

@idune: Under BAL regime, Sri Lanka sells out to Bangladesh. Tamil cheerleaders happily spewing Gopali propaganda.

 

[Species]

Too high risk lending. Seems to be a goodwill gesture in exchange for Rajapakse's visit to Dhaka on Bangabandhu's birth centenary celebrations.

 

[313ghazi]

I would suggest Bangladesh not loan anyone money. Spend that money on micro-infrastructure. Not big projects, but small projects that will significantly improve the quality of life of people who have very little - wherever in your country you think there is the most need.

 

[UKBengali]

I would suggest Bangladesh not loan anyone money. Spend that money on micro-infrastructure. Not big projects, but small projects that will significantly improve the quality of life of people who have very little - wherever in your country you think there is the most need.

BD's actual problem now is one of not being able to spend the money, rather than a shortage.

Due to lack of high-quality project managers and other bottlenecks a lot of the budgeted ADP(Annual Development Plan) money simply does not get spent every year.

Yes a still poor BD should not really be lending anyone money as it itself still gets billions of dollars of soft-loans every year but 200 million US dollars is a drop in the ocean of a fast growing 350 billion US dollar economy.

 

[bd_4_ever]

I am of the opinion that if a neighbor needs help, we should respond in kind - leaving all the politics aside.

However, I also agree that we should not be too easy-going. The 2% they have to return is good. If it wasn't, SL would not have agreed in the first place. So I don't see the problem of this string.

Although 200 million is a meagre amount in front of our 45 billion reserve, its still money hard-earned by our people around the globe. No way we should be giving this for free. Always strike a balance - that's the key.

 

[Tom-tom]

The comments were from a Pakistani diplomat. Reported in Bangladesh media.

Such stories are often published as part of syndication, after being Published in Pakistani Media first.
Giving loans to Sri Lanka is way too forward and risky. Their credit rating is now in the pits. Sad.

Look at Prof. Zahid Sir's comments, whom I regard very highly.

Sri Lanka tourism industry is reviving gradually and soon will become a multi billion industry. So there some positive about Sri Lanka however if they can't pay we take good or keep paying Bangladesh for ever.

 

[nana41]

Well I take back my earlier comment as not aware that they supported the savages on Rohingya - not sure if it is a Buddhist-brotherhood thing.

BD Government should spend money on the impoverished people and try to make itself into a welfare state.what’s the point of keeping money in the bank.

 

[GumNaam]

Well done Bangladeshi brothers...

 

[Death Professor]

So when is Bangladesh, graduating from LDC? Hopefully soon, and hope they don't apply for GSP+ status as well. Then we will see what actual progress and GDP growth looks like.

 

[Destranator]

I am of the opinion that if a neighbor needs help, we should respond in kind - leaving all the politics aside.

However, I also agree that we should not be too easy-going. The 2% they have to return is good. If it wasn't, SL would not have agreed in the first place. So I don't see the problem of this string.

Although 200 million is a meagre amount in front of our 45 billion reserve, its still money hard-earned by our people around the globe. No way we should be giving this for free. Always strike a balance - that's the key.

2% is not the string. It is the year long gradual release of funds, only to be returned within 3 months. Almost a pointless loan.

 

[bluesky]

Well I take back my earlier comment as not aware that they supported the savages on Rohingya - not sure if it is a Buddhist-brotherhood thing.

Please note that the present President in SL came to power only in 2019. His predecessor was Maithripala Sirisena. Rohingya issue was during his time. Note also that SL Buddhists are also at odds with Muslims. This may have been a factor in SL's tilt against Rohingyas.

We should have different chambers in our minds so as not to mix up things when it is a decision on a foreign relationship.