Bangladesh Foreign minister rules out fear of debt trap

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Foreign Minister AK Abdul Momen has ruled out fear of a debt trap for Bangladesh as the government is careful while taking loans and its subsequent management.

The minister made the remarks while talking to a small group of journalists after a meeting with Chinese Ambassador to Bangladesh Li Jiming at the Ministry of Foreign Affairs on Wednesday, reports UNB.

“We don’t borrow that much and when we borrow we do it with much calculation,” Momen said.

Highlighting Bangladesh’s economic strength backed by stronger export growth and remittance inflow, Momen said, “We are capable of (loans) repayment.”

Chinese Ambassador to Bangladesh Li Jiming also reiterated that there is no debt trap in this country.

The foreign minister said they discussed the tripartite mechanism for Rohingya repatriation with the Chinese envoy.

“We sought their (Chinese) help,” he said, adding that the tripartite process – Bangladesh-Myanmar-China – remains halted for a long time and the repatriation process should start.

Talking about the current situation in Sri Lanka, the minister said, “We want stability everywhere. We want our friendly countries to get back stability.”

He added that Bangladesh’s economy largely depends on other countries’ stability.

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