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Bangladesh’s external debt dropped by $1.43b

Bangladesh’s external debt decreased by $1.43 billion in the July-December period of 2022, compared to the first half of the same year, indicating that foreign lenders are losing interest in extending financial facilities due to large deferred payments.

Industry insiders blamed two key factors for the phenomenon: the growing deferred payment created by the USD shortage and increasing borrowing costs due to USD appreciation against the local currency Taka.

The private sector deferred payment stood at $689.37 million at the end of December 2022, while the financial account stood at a negative $1.09 billion. Regulator data shows that private-sector foreign loans stood at $24.30 billion at the end of December last year, down from $25.40 billion in September.

Source for more details:

The Business Post   

New Age

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