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Comment on Chinese loans

Kamal sends rejoinder to FT

FE REPORT | August 12, 2022 00:00:00

Finance Minister AHM Mustafa Kamal on Thursday sent a rejoinder to the London-based daily Financial Times (FT) in connection with an interview published by the daily on the previous day, officials at the ministry said.

According to the FT report, the Bangladesh Finance Minister in an interview with the daily warned other countries of taking loans from China, but the minister actually did not mention any particular country, an official of the finance ministry said.

"He (the minister) said that under the present circumstances when the world is reeling under severe economic shocks due to war and pandemic, no country should take loans without thinking twice. He did not mean only Chinese loans, he meant loans from any source," the official, who is aware of the rejoinder, told the FE.

The FT report said, Bangladesh's finance minister has warned that developing countries must think twice about taking more loans through China's Belt and Road Initiative (BRI) as global inflation and slowing growth add to the strains on indebted emerging markets.

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