The government of Bangladesh is seeing one surprise after another. One of which is to build the Padma Bridge with their own funds' Construction of the Ruppur Nuclear Power Plant Construction of Metrorail for the first time in Bangladesh. Making Cornful Tunnels. The government is undertaking one big project after another. The current economy of Bangladesh is not so strong that Bangladesh can do these projects with its own money.
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The surprising thing is that the construction of the Padma Bridge cost as much as it did. 90% of it is borrowed from China The government of Bangladesh has accepted a loan of about 2 billion dollars from Russia for the Ruppur nuclear power plant. The Metrorail is being built by borrowing from Japan Karnaphuli tunnel is being built with the help of China.
Can Bangladesh get rid of this debt burden?
In the context of the current economy of Bangladesh, Bangladesh will not be able to get rid of the burden of so much debt easily. Before the start of the corona epidemic, the economic condition of Bangladesh was very good. The GDP growth rate was close to 8 per cent. Which was more than the GDP growth rate of India and Pakistan. However, after the corona epidemic, Bangladesh's export sector completely collapsed. The export of special garments has stopped.
In this situation, the reserve of the country's economy is decreasing day by day. Moreover, the price of goods in the country is gradually increasing. As a result, the value of the currency is decreasing. Moreover, Bangladesh has borrowed so much that it can repay the debt with twenty years of income from the Padma Bridge or Metro Rail. If Bangladesh doesn't find a good export industry soon. Then there is danger ahead for Bangladesh. The government will be forced to declare itself bankrupt like Sri Lanka.
What steps can the government take now?
At this moment, the government of Bangladesh needs to introduce an extreme level of growth. Countries like China, Russia and Japan lend to developing countries. Take over the countries. The clear proof of this is the occupation of Sri Lanka by China. Sri Lanka is in this situation today because of China's debt trap. But Bangladesh can easily get rid of this problem if it wants. Bangladesh can take advantage of China and Japan's mutual opposition. Using the enmity of China and Japan, how Bangladesh can take advantage? Another article will be published on our portal about it.