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Posts tagged as “devalution”

Foreign debt servicing likely to soar by 45pc

by Rejaul Karim Byron in The Daily Star, Jun 1, 2023The government’s foreign debt servicing burden may rise by as much as 45 percent in the next fiscal year due to the devaluation of taka and higher utilisation of foreign loans in recent years. About Tk 24,700 crore would be set aside in fiscal 2023-24’s budget for foreign loan repayment, according to finance ministry officials. It is about $2.42 billion considering the current exchange rate…