BD secure from debt crisis: Kamal

Bangladesh is in safe zone in terms of foreign loans, Finance Minister AHM Mustafa Kamal said Thursday, dispelling foreboding about any financial crisis.

He said the country's debt-to-GDP (gross domestic product) ratio is still 34 per cent, thus there is nothing to get worried.

"I believe we are on a safe trajectory," the finance minister told newsmen after a virtual meeting of the cabinet committee on government purchase.

Mr Kamal's remarks came when his attention was drawn regarding the ongoing economic crisis in Sri Lanka and whether Bangladesh risks the same in the days to come.

"The entire world still says Bangladesh's position is very strong," he said to underpin his optimism.

The minister maintained that countries of which loan is high compared to the GDP are in danger.

"Our position is much better. We are very strong…and will be stronger," asserts Kamal.

He said one would not be able to find out any indicators of Bangladesh's macro economy that can prove that its future is not good. "I believe the future days will pass well."

Replying to another query the minister said the government was not comparing Sri Lanka's economic situation with Bangladesh's. The situation in Sri Lanka is not relevant with Bangladesh.

"Our foreign-currency reserves are much higher than the requirement, our remittance is increasing, export earning is rising, our inflation is under control, and our money is not devalued. Where is our problem?" he asks.

Regarding the opening of Padma Multipurpose Bridge for traffic Mr Kamal said he was hopeful that the bridge would be ready within this year.

syful-islam@outlook.com