MLT foreign loans jump by 80pc in FY18

FE Online Report | Published: August 23, 2018 13:31:23 | Updated: September 13, 2018 14:37:48

Medium and long-term (MLT) loans in the past fiscal year (FY18) jumped by around 80 per cent over the previous year, according to the latest statistics of Bangladesh Bank.

The annual Balance of Payments (BoP) data, released in August, showed that country received $5.78 billion as MLT in FY18 which was $3.21 billion in FY17.

The huge amount of MLT loans were used to finance the part of the huge current account deficit in the past fiscal year which is reflected in the surge of the financial account surplus.

Financial account surplus stood at $9.07 billion in the past fiscal year while current account deficit reached at $9.78 billion.   

Central bank statistics also showed that payment for the amortisation of the MLT stood at $1.11 billion in the past fiscal year by registering 24.36 per cent growth.

Share if you like