Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The external debt servicing shot up by more than 65 per cent year on year to US$ 870.5 million in the first quarter of the current fiscal year (FY 2023-24).
Data issued by the Economic Relations Division (ERD) revealed that the repayment of principal amount was $ 492 million and the interest payment was $ 378.5 million during the period.
People familiar with the development told the FE that the amount of debt servicing was rising as many of the foreign-funded projects have matured to start repayment.
They also hinted that the debt servicing will continue to rise in the next quarters.
However, Bangladesh's total stock of external debt was equivalent to Tk 5.331 trillion as of March 2023.
Still, the country has access to concessional external financing from multilateral and bi-lateral partners while the country prefers this mode of financing.