Foreign debt is rising, reaching a record in 2020

[mb444]

This thread is about the Foreign Debt of Bangladesh. But, many of you are talking here about the domestic Public Debt. Are these two types of debts the same?

If same, why then Pakistan is suffering from the $93 billion debt? it is because this loan is from the foreign loan sharks like WB, ADB, and others which are provided funds by the Jews community.

By the way, within the next few years, BD debt will increase at least to $93 billion when Russia completes the Rooppur atomic power plant. Another $16 billion with interest.

BD loves to borrow foreign dollars to eat Biriyani. Quite a few BAL brats in this forum were celebrating the proposal of a $16 billion foreign loan offer to build a European-style Bullet train. If the GoB accepts this proposal, then the debt will rise to $109 billion. There are many others, too.

The country requires rapid industrialization that will create wealth inside the country. The govt will then be able to collect income and corporate taxes. Even it can borrow more from domestic sources like bank and post office. Real GDP will rise and the proportion of foreign debts will reduce.

BDs total debt exposure is around 40%....BD has over the years has reduced is from around 45% to as low as 36%. In recent years it is growing a little.

Pakistan debt exposure now nearing 100% of GDP. Why are their debt is so high.... well i assume military expenditure....but PK members would be in better position to answer.

But i repeat BD fiscal policy is very clear and very conservative and takes a very long view. Your hyperbole aside facts on the ground is BD debt as absolute number has grown in line with economic expansion deliberately maintaining the ratio.

It is wrong to state BD has spent money frivolously, there are incompetence and graft but our fiscal policy is consistent and effective.

Debt is not always bad... it is about what you are spending the money on. If you borrow to grow critical infastructure then the return on investment realised through increased economic activity should theoretically offset the overall cost of debt many times over. Lets all keep things in perspective.

 

[mb444]

Keep on over-dreaming. Now, please tell us how BD would repay the loans?

Bangladesh maintains a budget deficit just over 5% currently. The money it spends it generates itself through taxation and income from public sector enterprise. In most years the actual deficit never materialises because expenditure in major projects usually suffers delay.

BD has never even come close to defaulting on its loan obligations. So you see nothing has really changed, our debt has only grown along with our economy. To answer your question we will pay our debt through tax revenue.

 

[mb444]

It was you who suddenly started to respond to my opinion. It seems you have now understood that your points are baseless and that is why you are showing displeasure towards me. Let me not respond to your utmost insult. But, please tell how a country can be industrialized,

1) if most of its own foreign currency through export and remittance is used to import finished goods mostly from India and China instead of building industries?
2) if it asks donor organizations and industrially developed govts to extend credits/loans to do a few fancy projects that you love to call infrastructure? The loan stands today more than $70 billion and tomorrow it will exceed $100 billion.

Bangladesh economy is around $320bn, it exports around $40bn and imports around $46bn.

So you see forgetting export there is still $280bn of activity in country. This is our internal engine that is driving growth. Your understanding is profoundly wrong ...our exports do not drive growth.

In terms of your question about sourcing foreign currency to pay for imports, well our expats send back to BD $20bn remittence. We have reasonable reserves of $45bn currently.

 

[EasyNow]

You are just putting the cart in front of the horse. Do not you think BD has already built the infrastructure since 1947 that the garments and other industries are already using? It is time we put more money on high-end industries before we spend more on highways and fancy bridges here and there. Metrorail is different. It was not there and it is now built.

Please define the needed infrastructure for industrialization for people to understand. Please read the examples of other countries and compare them with BD. BD is almost void of high and medium-end industries. It is infested with only low-end garments.

You must be joking - already built the infrastructure since 1947?

Are you talking about kamlapur station and our railway line that travels at 10m per hour? We had electricity coverage of 20% in 2000 today it is over 80% - I suppose we should have left it at 20%.

Road, railways, bridges, internet and electricity are not fancy things, they are essential if you want to compete in the world.

You want high end industries, but we need the basics too. Without internet, electricity and these fancy bridges half the country would be in the dark ages. As BD private sector has proved, if govt provides the structure the people will make the industry - and they will do it high end.

 

[Indos]

Hopefully your statement is true , the thing is as time goes on the Bangladeshi youth get older and get into higher positions which will hopefully help Bangladesh face it's dilemmas and make it into a developed nation.

I heard Korea bought Boston Dynamics which is interesting lol , Bangladesh can also get into AI as time goes on since who ever controls the AI market will be quite powerful. AI one of the few things Bangladesh needs to start working on and don't get me started on innovation or a space agency lol.

Bangladesh needs to change it's international image of being a poor sad nation to a technologically advanced and innovative nation. Japan used to be innovative back in the 80s but fell , hopefully we can take the innovative one in the future.


I mean we're not 100 years behind India in industrialization but we're definitely not as industrialized

This is basically what Indonesia Finance Minister say about becoming developed nation


Sri Mulyani: RI Becoming a Developed Country Is Not As Easy As Building Prambanan
NEWS - Lidya Julita Sembiring, CNBC Indonesia

01 April 2021 16:40

Jakarta, CNBC Indonesia - Minister of Finance Sri Mulyani Indrawati said that being a developed country is not as easy as building the Prambanan temple. Where the Prambanan temple was made in just one night by Bandung Bondowoso for Roro Jonggrang.

"Reaching an advanced Indonesia is not like the Rorongjongrang temple which can be made overnight," said Sri Mulyani in a UGM webinar, Thursday (1/4/2021).

According to her, bringing Indonesia to become a developed country takes time and cannot be instantaneous. Becoming a developed country requires a lot of requirements and preparation.


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Indonesia must improve the quality of Human Resources (HR), infrastructure development and must be able to not only adopt and use but become an investor of technology.

Read: Boosting Consumption is the Key to the Economy Growing 5% in 2021

Indonesia must also be able to improve the quality and productivity of the public sector, bureaucracy, services and governance. As well as how to organize the territory as an archipelagic country which actually provides enormous potential.

"How do we use economic resources including finance properly. This is a prerequisite that must be met in order to achieve an advanced Indonesia," she explained.

She continued, this prerequisite is not only for Indonesia but all countries in the world if they want to become developed countries and become high-income countries. All countries must prepare a policy strategy from the human element, namely human resources to technology.

"If you want to become a high income country, advance country, prosperous and just, they must prepare a policy strategy as I have said, human elements, institutions, infrastructure, technology and resources, including state finances," she added.

Sri Mulyani: RI Jadi Negara Maju Tak Semudah Bangun Prambanan

Menteri Keuangan Sri Mulyani Indrawati mengatakan menjadi negara maju tidak semudah membangun candi Prambanan.

www.cnbcindonesia.com

 

[bluesky]

You must be joking - already built the infrastructure since 1947?

Are you talking about kamlapur station and our railway line that travels at 10m per hour? We had electricity coverage of 20% in 2000 today it is over 80% - I suppose we should have left it at 20%.

But, based on these poor infrastructures built since 1947 BD has built thousands of textiles factories and here you are ridiculing these. The govt is building many EPZs and these are called industrial infrastructures if they are duly provided with access roads, telephone/fax connections, water supply, sewerage systems, and now mobile/internet connections.

What do you think correct infrastructure means for industrialization? Padma Bridge and Rooppur Nuclear Power Plant, and Paira River Port?

Stupid BAL brat!!! Read some books on the economic development of a country before vomiting your ignorance here. BAL brats like you think industrialists will build factories over the Padma Bridge that will be connected with the internet!!

 

[EasyNow]

But, based on these poor infrastructures built since 1947 BD has built thousands of textiles factories and here you are ridiculing these. The govt is building many EPZs and these are called industrial infrastructures if they are duly provided with access roads, telephone/fax connections, water supply, sewerage systems, and now internet connections.

What do you think correct infrastructure means for industrialization? Padma Bridge and Rooppur Nuclear Power Plant, and Paira River Port?

Stupid BAL brat!!! Read some books on the economic development of a country before vomiting your ignorance here. BAL brats like you think industrialists will build factories over the Padma Bridge that will be connected with the internet!!

Ok, please tell me what is the correct infrastructure for industrialisation?

Electricity, port and bridges are wasteful according to you. Maybe you think drinking water is frivolous too??

 

[bluesky]

Ok, please tell me what is the correct infrastructure for industrialisation?

Electricity, port and bridges are wasteful according to you. Maybe you think drinking water is frivolous too??

I answered your question already. To you nuclear power plants are a necessary infrastructure, but not to me.

Don't talk like a headless stupid chicken. Get lost and learn more about the process of national economic development. Learn it from England. It is the best place to learn, but do not go out to see all those fancy buildings and bridges that were built two centuries after industrialization.

England is the cradle of modern industrial development that started from inventing steam engines and electricity. Go back by at least three hundred years to know about its development history. However, idiots like you will go to see tall high-rise towers and bridges and will think this is what the genuine development is and the poor BD should follow the same in scores.

- At least, ask your WASA to improve the quality of potable water. Now, it is yellow Padma water.
No wonder, BD remains an LDC.

- Ask some BD authority to get Dhaka rid of the curse of waterlogging every year from June onward. Foreigners would then come to praise Dhaka. Now, almost no one visits Dhaka but go to Myanmar. But, it does not shame the BAL brats like you.

- Ask someone else to clean the streets and remove all those through away chicken feathers, bones, skins, and thousand other smelly garbages like dead dogs. This would be another good development.

- Clear the footpaths of the hawkers. Your party cronies have fully occupied them.

- Go to Gazipur/Mawna by bus to see how almost the entire length of this road from Uttara is filled with Haat and Bazaar, and cows, goats, and chicken. Do not you think this is a very important road because Mawna is the source point for hundreds of garments items. This road is a real infrastructure.

- Go visit all through the country to know where Golden BD stands and improve the quality of people's lives.

Idiot, learn about your country instead of praising your BAL wrong policy that will make the country poorer. Do not you see what happened to Pakistan which was similarly building prestige projects to impress and get praises from the foreigners?

BD idiots led by idiots like you are just trying to make the country another failed state. Shame on you!!!

 

[mb444]

I answered your question already. To you nuclear power plants are a necessary infrastructure, but not to me.

Don't talk like a headless stupid chicken. Get lost and learn more about the process of national economic development. Learn it from England. It is the best place to learn, but do not go out to see all those fancy buildings and bridges that were built two centuries after industrialization.

England is the cradle of modern industrial development that started from inventing steam engines and electricity. Go back by at least three hundred years to know about its development history. However, idiots like you will go to see tall high-rise towers and bridges and will think this is what the genuine development is and the poor BD should follow the same in scores.

- At least, ask your WASA to improve the quality of potable water. Now, it is yellow Padma water.
No wonder, BD remains an LDC.

- Ask some BD authority to get Dhaka rid of the curse of waterlogging every year from June onward. Foreigners would then come to praise Dhaka. Now, almost no one visits Dhaka but go to Myanmar. But, it does not shame the BAL brats like you.

- Ask someone else to clean the streets and remove all those through away chicken feathers, bones, skins, and thousand other smelly garbages like dead dogs. This would be another good development.

- Clear the footpaths of the hawkers. Your party cronies have fully occupied them.

- Go to Gazipur/Mawna by bus to see how almost the entire length of this road from Uttara is filled with Haat and Bazaar, and cows, goats, and chicken. Do not you think this is a very important road because Mawna is the source point for hundreds of garments items. This road is a real infrastructure.

- Go visit all through the country to know where Golden BD stands and improve the quality of people's lives.

Idiot, learn about your country instead of praising your BAL wrong policy that will make the country poorer. Do not you see what happened to Pakistan which was similarly building prestige projects to impress and get praises from the foreigners?

BD idiots led by idiots like you are just trying to make the country another failed state. Shame on you!!!

Is this your time of the month again?

 

[DalalErMaNodi]

Is this your time of the month again?

Cranberry Juice Prices went up in Japan.

Ok, please tell me what is the correct infrastructure for industrialisation?

Electricity, port and bridges are wasteful according to you. Maybe you think drinking water is frivolous too??

Don't feed the Anime boi.

He will provoke you, then cry like a girl when you tap back, then proceed to report you.


Duder Basa.

 

[EasyNow]

I answered your question already. To you nuclear power plants are a necessary infrastructure, but not to me.

Don't talk like a headless stupid chicken. Get lost and learn more about the process of national economic development. Learn it from England. It is the best place to learn, but do not go out to see all those fancy buildings and bridges that were built two centuries after industrialization.

England is the cradle of modern industrial development that started from inventing steam engines and electricity. Go back by at least three hundred years to know about its development history. However, idiots like you will go to see tall high-rise towers and bridges and will think this is what the genuine development is and the poor BD should follow the same in scores.

- At least, ask your WASA to improve the quality of potable water. Now, it is yellow Padma water.
No wonder, BD remains an LDC.

- Ask some BD authority to get Dhaka rid of the curse of waterlogging every year from June onward. Foreigners would then come to praise Dhaka. Now, almost no one visits Dhaka but go to Myanmar. But, it does not shame the BAL brats like you.

- Ask someone else to clean the streets and remove all those through away chicken feathers, bones, skins, and thousand other smelly garbages like dead dogs. This would be another good development.

- Clear the footpaths of the hawkers. Your party cronies have fully occupied them.

- Go to Gazipur/Mawna by bus to see how almost the entire length of this road from Uttara is filled with Haat and Bazaar, and cows, goats, and chicken. Do not you think this is a very important road because Mawna is the source point for hundreds of garments items. This road is a real infrastructure.

- Go visit all through the country to know where Golden BD stands and improve the quality of people's lives.

Idiot, learn about your country instead of praising your BAL wrong policy that will make the country poorer. Do not you see what happened to Pakistan which was similarly building prestige projects to impress and get praises from the foreigners?

BD idiots led by idiots like you are just trying to make the country another failed state. Shame on you!!!

Look I don't really like replying to you because you have a habit of flying off the handle.

If only you weren't so blind, you would see that BAL, Hasina, you and me will be gone BUT nuclear plants, bridges and metro will still be here. So forget your stupid short sighted politics.