Destranator
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I understand and appreciate the difference between foreign debt, local debt and national debt.Bold part: I would like you to re-write the paragraphs. It is because your statements do not distinguish between FOREIGN DEBTS in US dollars and DOMESTIC DEBTS in Taka borrowed from the banks and from the population who are almost forced to buy national bonds because they do not see any benefits as the bank interest rates are very low and are lower than the rate of inflation.
@Bilal9
In any case, foreign borrowing that stands now at $97 billion is different from domestic borrowings.
And most people do not understand the difference between the definitions of GDP (Gross Domestic Product) and GNI (Gross National Income), and our Ahammak Finance Minister usually thinks these two are the same. He uses GNI figures which is a little greater because it includes also remittances from abroad, about $20 billion.
My point was around reliability of economic numbers. When your economic numbers become unreliable, it screws up all sorts of economic modellings and forecasts.
Classic example is how the BAL government overestimated future power demand when they took charge. Inaccurate projection of economic development resulted in us signing up for excessive, idle power capacity which is costing us tonnes of money, some of which is foreign loans with interest.
One can hope that a future government reforms BBS and gives them autonomy.
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