Rising foreign debt and balance of payments deficit: Does Bangladesh need to worry?

[PadmaBridge]

OK. But, just because I see things in different optics Im ignorant?

When stuff you see is contradicted by data - it is dangerous!

Your claim that BD’s growth has been fuelled by debt is utterly stupid!!!

Given virtually every other country has much higher debt than BD!

I as an individual owe three times my current income to the bank. Which is the norm for most home owners. Is my growth fuelled by debt?

You say you are a “real estate agent”?

Real estate agents are known for their hyperbole and brash attitudes! People least trusted according to most surveys

 

[Abu Shaleh Rumi]

Your claim that BD’s growth has been fuelled by debt is utterly stupid!!!

It is a fact. We don't have industrial capacity to have sustainable 5-6 percent growth. Our growth is fuelled by public borrowing and spending.

Given virtually every other country has much higher debt than BD!

Im not talking about any other country am I? Some country have the industrial and technological capacity to sustain their debt but most countries are just like Srilanka and Pakistan.

I as an individual owe three times my current income to the bank. Which is the norm for most home owners. Is my growth fuelled by debt?

Yes.

You say you are a “real estate agent”?

When did I said that? When I said Im a real estate guy that doesn't mean Im a real estate agent!

Real estate agents are known for their hyperbole and brash attitudes! People least trusted according to most surveys

Im not a people's person. I like my personal space...

 

[BananaRepublicUK]

It is a fact. We don't have industrial capacity to have sustainable 5-6 percent growth. Our growth is fuelled by public borrowing and spending.

Im not talking about any other country am I? Some country have the industrial and technological capacity to sustain their debt but most countries are just like Srilanka and Pakistan.

Yes.

When did I said that? When I said Im a real estate guy that doesn't mean Im a real estate agent!

Im not a people's person. I like my personal space...

You can spout a lot of nonsense if you have chosen (or no choice) to have a minimalist life.

Your words and actions have very little consequences for yourself. Nothing to lose makes you dangerous.

 

[Abu Shaleh Rumi]

You can spout a lot of nonsense if you have chosen (or no choice) to have a minimalist life.

Your words and actions have very little consequences for yourself. Nothing to lose makes you dangerous.

Explain...

 

[Destranator]

Im losing the value of my fixed deposit because of inflation. AlHamdulillah Allah gave me enough to live a comfortable life even with this inflation. But, what about the majority of Bangladeshi population? They are feeling the burnt of GoB mismanagement. Especially on food products which is essential to survive. Example: In my hometown chicken Egg was 10 Taka per piece, from yesterday it became 15 Taka. 50% jump overnight!

Corrupt politicians, corrupt, low IQ and low quality civil servants will fuk this country further...

Bro, high inflation is worldwide due to the Ukraine war and logistical constraints brought about by the multi-year pandemic. This has nothing to do with local corruption in BD.
The long term solution to tackling such crisis is to widen the industrial base, to substitute imports and diversify the export basket, by investing in infrastructure, manufacturing, supply chain and quality education.

Bhaiera control your tempers and language please. Shouting on the Internet does no one any good...

Actually, I would rather folks wreck keyboards than cause anarchy on the streets.

 

[mmr]

Forex reserve falls to $37 billion

Amid the ongoing dollar crisis, Bangladesh's foreign exchange reserves have further declined to $37 billion. Reserves have fallen to this level after paying off $1.73 billion to Asian Clearing Union (ACU). At the end of Thursday (8 September), reserves stood at $37.06 billion; on Wednesday (7...

www.tbsnews.net

Reserve now 37, but usable reserve is only 30.

With current trend end of next year reserve will go below 15 billion.

Lolz

 

[cybertron]

It’s so evident that some Bangladeshi’s are pissed off by BD’s recent growth which is evident on ground. It’s similar to how any positive news in India is death pill for the ultra left.

 

[Bilal9]

It’s so evident that some Bangladeshi’s are pissed off by BD’s recent growth which is evident on ground. It’s similar to how any positive news in India is death pill for the ultra left.

Most "paaziteev" news in India is Godi propaganda.

A few showcase projects here n there (i.e, Bande bharat train, mars mission) does not do crap for the avg. Indian doing his business on the side of tracks or the street.

Aam Janta wants jobs (roti, kapda, makaan). Not backoffice jobs for a few million folks.

Without Backoffice jobs India would do far worse than either Pakistan or Bangladesh. An Indian said that.

But let's not hijack the thread - shall we? This topic is not about India.

 

[Abu Shaleh Rumi]

This has nothing to do with local corruption in BD.
The long term solution to tackling such crisis is to widen the industrial base, to substitute imports and diversify the export basket, by investing in infrastructure, manufacturing, supply chain and quality education.

Everything you mentioned will not happen in Bangladesh because of corruption. Forget about industry, we are failing to create entrepreneur who can build industry. RMG will not drag us forever...

 

[Abu Shaleh Rumi]

Forex reserve falls to $37 billion

Amid the ongoing dollar crisis, Bangladesh's foreign exchange reserves have further declined to $37 billion. Reserves have fallen to this level after paying off $1.73 billion to Asian Clearing Union (ACU). At the end of Thursday (8 September), reserves stood at $37.06 billion; on Wednesday (7...

www.tbsnews.net

Reserve now 37, but usable reserve is only 30.

With current trend end of next year reserve will go below 15 billion.

Lolz

Can we trust our governments words?

BTW, one PDF potato economist (forgot who) told reserve was stabilized at 40 billion. Because of export and remittance boom something like that. lol...

 

[Bilal9]

Forex reserve falls to $37 billion

Amid the ongoing dollar crisis, Bangladesh's foreign exchange reserves have further declined to $37 billion. Reserves have fallen to this level after paying off $1.73 billion to Asian Clearing Union (ACU). At the end of Thursday (8 September), reserves stood at $37.06 billion; on Wednesday (7...

www.tbsnews.net

Reserve now 37, but usable reserve is only 30.

With current trend end of next year reserve will go below 15 billion.

Lolz

Exactly right. By next year sometime (or 2024) there will be 5~10 Billion yearly added to loan payment liabilities.

Then the game will really get good...

 

[Abu Shaleh Rumi]

It’s so evident that some Bangladeshi’s are pissed off by BD’s recent growth which is evident on ground. It’s similar to how any positive news in India is death pill for the ultra left.

Instead of being a godibhakt be a deshbhakt. People don't elect and pay politicians to do orgies...

 

[mmr]

Can we trust our governments words?

BTW, one PDF potato economist (forgot who) told reserve was stabilized at 40 billion. Because of export and remittance boom something like that. lol...

Lol ya pdf has lot of morons like to make dumb claims

Exactly right. By next year sometime (or 2024) there will be 5~10 Billion yearly added to loan payment liabilities.

Then the game will really get good...

If you look at burn rate seems bd is burning 7 to 8 billion per fiscal meaning by next year another 15 out of usable 30 will be gone. You left with below 15.

 

[UKBengali]

Loving the donkey economics on display here from half-educated clowns.

BD has just paid off 2 whole months of ACU and it does this on a 2 monthly cycle and so naturally this will show a dip even with stabilised Forex reserves.

BD exported 4.6 billion US dollars in August(rise of 36% over same month last year) and with the remittances should be balancing the imports that the government has severely curtailed.

To see how this is normal behaviour at even stabilised forex seserves let us see the chart below(see the dips there every 2 months as that was when BD paid off the 2 monthly ACU):

 

[Bilal9]

Lol ya pdf has lot of morons like to make dumb claims


If you look at burn rate seems bd is burning 7 to 8 billion per fiscal meaning by next year another 15 out of usable 30 will be gone. You left with below 15.

The usual AL supporter and Sanghi pa-chata Bangladeshis will doubt your prediction, but I fully agree.

Consider this. Out of every 15 Billion USD of remittance coming into Bangladesh from our mehnati people overseas, who clean toilets and sweep streets for a living - about $10~$12 Billion goes back to India (mostly harami chashmkhor non-Muslim cow-belters) which they then use to fund their Muslim oppression campaigns in BIMARU states.

We are employing these suwars in Bangladesh and funding all their chest-beating and minaret-climbing.