Per Capita Climate Debt Increased To $79.61

Finance Secretary Dr. Md Khairuzzaman Mozumder announced that the Asian Development Bank (ADB) and the World Bank will provide $600 million and $500 million in loan assistance, respectively, by December 2024.

Bangladesh aims to receive $1 billion from the IMF within this fiscal year, with additional support requested for the ongoing three-year loan program. Finance Secretary Dr. Khairuzzaman Mozumder confirmed that an IMF team will visit Bangladesh on December 4 for final discussions. Additionally, the Asian Development Bank (ADB) will provide $600 million, and the World Bank $500 million in budgetary support by December.

On November 18, 2024, Moody’s downgraded Bangladesh’s long-term sovereign credit rating to B2 from B1, with a "negative" outlook, marking its second downgrade in under two years. The rating agency also lowered GDP growth forecasts for FY25 to 4.5% from 6.3%, citing heightened political risks, weak economic activity, and growing reliance on short-term debt.

Bangladesh has the potential to earn US$1 billion annually from the global carbon market, according to a World Bank expert at the COP29 conference in Baku on December 2, 2024. The country is encouraged to speed up its efforts to tap into carbon trading opportunities, with projections indicating Bangladesh can trade up to 40 million tonnes of carbon.

Government borrowing in Bangladesh has reached Tk 595.16 billion during the first four months of the fiscal year, primarily to cover budget deficits and repay central bank debts, according to a confidential Bangladesh Bank report. This amount, borrowed via treasury bills and bonds between July and October, resulted in a net borrowing of Tk 204.09 billion.