Foreign debt has increased by 39 thousand crores in one year
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Photo: Collected
Foreign debt in the country has increased by 349 crore dollars in the last one year. In sum of Tk. 38 thousand 940 crores. In June last year (2022), the total foreign debt position was 9 thousand 545 crore dollars. And in June of this year, it has increased to 9 thousand 894 crore dollars.
During this period the amount continues to rise despite massive repayment of foreign debt. During the discussion period, long-term loans increased, short-term loans decreased.
These data were obtained from a research report of the central bank published on Sunday (December 3). The report was prepared on the basis of data till June last on foreign credit and investment.
According to the report, compared to June 2022, the foreign debt status of the country has increased in June this year. Foreign direct investment or FDI coming into the country has decreased. And the investment status of Bangladeshi entrepreneurs abroad has also decreased slightly.
In June 2022, long-term debt was 7,480 crore dollar. And in June of this year, it has increased to 8290 crore dollars. In June last year, short-term loans were 2,650 crore. And in June of this year, it decreased to 1603 crore dollars. In recent times this debt has further reduced.
According to sources, there has been a severe dollar crisis in the country for the past one and a half years. This crisis has been exacerbated by short-term foreign debt repayments. But overall short-term debt has decreased but now long-term debt has increased. As a result, the overall gross external debt position has increased, which may put further pressure on the dollar for repayment.
However, the central bank believes that the flow of dollars in the market has increased. The deficits that were there earlier have now reduced. Long-term debt repayments will not put additional pressure on the dollar.
From the report, it can be seen that despite the increase in foreign debt, the growth rate has decreased. In June 2021, total debt rose by more than 19 percent. In June last year, it decreased to 17 percent. In June this year, it further reduced the loan growth rate to 3.70 percent.
Compared to June of last year short-term loans decreased by 22.30 percent and long-term loans decreased by about 10.80 percent in June this year. In June last year (2022), short-term loans increased by 47 percent and long-term loans by 11 percent.
The data of the report also shows that in the fiscal year 2021-22, FDI came to the country at 344 crore dollars. 325 crore dollars came in the last financial year. FDI decreased by 5.52 percent during the period under discussion. Of the total FDI, only 800 crore dollars came as capital from abroad. The rest is reinvested from the profits of foreign companies operating in the country and loans from one company to another.
FDI came as reinvestment from profits earned by foreign companies operating in the country to the tune of 237 crore dollar. Only 80 crore dollars came as loans from one company to another.
In the last financial year, the highest net capital came from the United States of 260 million. All together came to 29 million dollars. In the fiscal year 2021-22, US investment came to 26 crore dollars. Investments from the country have declined over the past year.
The investment status of Bangladeshi entrepreneurs abroad was 40 crore dollars in June last year, it has slightly decreased to 38 crore dollars in June this year. During the discussion period, the investment status of Bangladeshi entrepreneurs abroad decreased by 2 crore dollars.
