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Bangladesh has one of lowest debts to GDP ratios in the world: Kamal

UNB . Dhaka
27 Sep 2022 19:57:06 | Update: 27 Sep 2022 20:04:11
Bangladesh has one of lowest debts to GDP ratios in the world: Kamal
Finance Minister AHM Mustafa Kamal — Courtesy/ BSS

Finance Minister AHM Mustafa Kamal has said that Bangladesh has one of the lowest debts to GDP ratios in the world. 

The finance minister made the comment at the annual meeting at the Asian Development Bank (ADB) headquarters in Manila on Tuesday, said a press release of the finance ministry.

At the same time, he highlighted the fact that Bangladesh has never failed to pay domestic and foreign debts in the last 51 years.

“Currently, the cumulative financing of ADB in Bangladesh stands at $27.6 billion. Out of this total, the outstanding loan is $11.69 billion” said Kamal.

Meanwhile, Kamal thanked ADB for the assistance to the developing member countries, including Bangladesh to recover from economic and health crises. 

It is very important that the Bangladesh-ADB Country Partnership Strategy (2021-2025) is aligned with Bangladesh's national development goals, he said.

The minister expected $12-15 billion in loan support from ADB over the next five years, which is crucial for achieving Bangladesh’s development milestones.

The finance ministers also attended a bilateral meeting with the president of ADB Masatsugu Asakawa.