Foreign debt repayment rises sharply in 10 months: Asif Mahmud

NN Online:

Adviser to the Ministry of Local Government, Rural Development and Cooperatives, Asif Mahmud Shojib Bhuyain, has reported a notable increase in Bangladesh’s foreign debt repayments during the first 10 months of the current fiscal year.

In a statement posted on his verified Facebook account, Mahmud—who also serves as an adviser to the Ministry of Youth and Sports—revealed that from July to April of FY 2024-25, Bangladesh repaid USD 35 billion (USD 3.5 billion), already exceeding the total repayment made in the entire previous fiscal year.

“The foreign debt repayment in the first 10 months has increased by 24.73 percent compared to the same period last year,” he noted.

Breaking down the figures, Mahmud stated that principal repayments alone amounted to USD 2.02 billion, marking a 32.86 percent rise from USD 1.66 billion during the corresponding period of the previous fiscal year.

In a separate update, Mahmud addressed the issue of urban water-logging following recent heavy rainfall.

He remarked that this season’s water-logging has been “less severe than ever before,” attributing the improvement to advanced drainage preparations and the round-the-clock efforts of city corporation workers.

“Drainage systems were cleared and prepared in advance to ensure uninterrupted water flow,” he said. “Our teams remained active throughout the night during the rainfall, which significantly reduced water stagnation.”

He encouraged residents to contact the city control room in case of water-logging, reiterating the government’s dedication to rapid response and public service.