Business Report: Sri Lanka is in an extreme economic crisis. At that time, the Bangladesh government gave a loan of 200 million dollars to the fragile economy. Among various uncertainties was the repayment of that loan. However, belatedly, Sri Lanka has started repaying that debt.
Sri Lanka has returned another 100 million dollars to Bangladesh from a loan of 200 million dollars taken under the currency swap system.
Bangladesh Bank said the money was returned on Thursday (August 31). Earlier, the country returned 50 million dollars in the first installment on August 21.
On Friday (1 September), an official of the relevant department of Bangladesh Bank said that another 100 million dollars of the loan given to Sri Lanka has been returned. 50 million dollars came last August 21.
In view of Sri Lanka’s application, the time was extended several times. It is expected that the country will return the rest of the money in due course.
In the period, September-October 2021, Sheikh Hasina’s government gave a loan of 200 million dollars in four installments under the currency swap system. The period of one-year loan expired in September last year.
Later, the time was extended several times for the consideration of their application. Conditionally, Bangladesh is getting one and a half percent interest plus London Interbank Offer Rate (LIBOR) against the loan.
According to Bangladesh Bank, as of August 30, the country’s reserves currently stand at $2,920 million (29.20 billion dollars).
And according to the accounting system of the International Monetary Organization (IMF), the actual reserve amount of the country is 2 thousand 306 million dollars or 23.06 billion dollars. It’s known that with this reserve, up to 4 months of import liabilities (about 6 billion dollars per month) can be met.