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Assessed
on the basis of disbursed outstanding principal,
Bangladesh's external public debt was $15.9 billion in
FY98, up slightly from 15.0 billion in FY97. Because
virtually all of the debt was provided on highly
concessional terms by bilateral and multilateral donors
(i.e. one or two percent interest, 30-year maturity,
20-year grace period), the net present value of the
total outstanding debt is significantly lower than its
face value. The external debt burden has eased during
the 1990's with the external public debt as a percentage
of GDP falling from 45.6 percent in FY94 to 37.1 percent
in FY98. Debt service as a percentage of current
receipts has also declined, from 20 percent in FY91 to
an estimated 8.2 percent in FY98. Bangladesh maintains
good relationships with the World Bank, Asian
Development Bank, the International Monetary Fund and
the donor community. There has been no rescheduling of
the external debt during the last fiscal year.
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General Section
