Thursday, September 29, 2022

The economy of Bangladesh: Bankrupt country due to debt? IMF fears Bangladesh!

Bright Times News: Is the financial outcome of Bangladesh going to be like Sri Lanka? Such fears have been expressed by the International Monetary Fund (IMF). This fear is significant for several reasons. What are the reasons? A few days ago, the International Monetary Fund (IMF) published a list.

According to that list, Bangladesh is the 41st largest economy in the world Bangladesh’s financial prosperity has come up in discussions many times over the years It has also received recognition from the IMF The GDP of Bangladesh has increased in the last few years. Per capita income also increased. Each is IMF-defined data

The question is, where the question of financial prosperity is so hotly debated — why does the IMF fear that Bangladesh is about to plunge into financial meltdown? There are certain reasons what the reason is?

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The first is debt. Bangladesh has taken loans from various international organizations. The interest rate of that loan is quite high incidentally, borrowing at exorbitant interest rates has almost become a practice in third-world countries. Different countries borrow a huge amount of money for their development. His interest rate has to be paid.

It should be noted that many people have expressed their objections at the international level about IMF loans in the past. It is even heard that the financial situation of various countries has deteriorated due to IMF loans. In the case of Bangladesh too, the impact of bad loans is believed to threaten the country’s financial situation.

But not only Bangladesh, the financial situation of various South Asian countries including Bangladesh and Pakistan may be bad. There is a shortage of reserve forex in the case of the Pakistan Meeting that deficit is a big challenge.

Reserve Forex is a major unit of any country’s financial base what exactly is meant by Reserve Forex? A shortage of the exact amount of foreign currency a country has in its hands — in whatever form — dollars or gold — creates large-scale fiscal problems for the country. Now let’s see if this problem occurs in Bangladesh

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