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Saturday, 30 Aug 2025

I brought down the outstanding debt from 2.5 billion to 700 million: BB Governor

Staff Reporter, Dhaka
Published: Sunday, October 20, 2024 01:29 PM
I brought down the outstanding debt from 2.5 billion to 700 million: BB Governor

Bangladesh Bank Governor Dr. Ahsan H. Mansoor said outstanding liabilities were brought down from 2.5 billion to 700 million in two months. The rest will also be settled in the next two months.

He said this information in a recent interview.

Dr. Ahsan H. Mansoor said, almost all petroleum products including fuel oil, gas, coal have to be imported from various sources. About 9 billion dollars were spent on it in the last financial year. In addition, dependence on electricity and fertilizers is also increasing. But, when the dollar crunch started over the last couple of years, those expenses could not be paid on time. In this reality, Adani, including Kafco, owes Chevron and BPC more than two hundred billion dollars to several foreign companies. However, in the last two months, the central bank has paid one and a half billion of the arrears without touching the reserves.

He said, the government had unpaid, unfulfilled liabilities of 2.5 billion. It was a dollar. We reduced that to 700 million. A lot of money has been paid for fertilizers, for electricity, for Adani-Chevron. Everyone's debt has been reduced somewhat. Our goal is to reduce debt to zero within the next two months. Then the liquidity in the market will increase.

After paying these dues, the pressure on financial management will be reduced. Which will speed up the overall activity. At the same time, preparations are underway to raise another $10 billion in loans from various institutions. But, the governor is a bit worried about the continuous increase in debt and repayment of foreign debt of 103 billion.

The Governor of Bangladesh Bank said, patience should be taken for at least one year to handle the situation.

Ahsan H. Mansoor also said, "If I get an additional 2-3 billion from the IMF, along with another 2 billion from the World Bank; Then two things have to be done with this 5 billion. The government will be able to increase some spending, thereby giving some momentum to economic activity. Don't jump right now that I don't have investments. Now there will be no investment, it will be less, that is the reality. Now the World Bank says our growth may drop to 4 percent. Maybe, I also think maybe in 4-5. Be it; Even that is only one year.
 

HN/MM

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