Why Bangladesh has been ignoring India’s warnings about the Chinese ‘debt trap’
Why Bangladesh has been ignoring India’s warnings about the Chinese ‘debt trap’
China’s Belt and Road Initiative has become almost synonymous with debt trap diplomacy. It’s a half-baked idea that created grounds for unfounded speculation. Fishermen prepare their nets on a beach at Cox s Bazar. | Ata Adnan, @ata.m.adnan.
Many in South Asia view major foreign powers (like China) and changes in status quo (like new economic relationships) with caution.
A history of colonialism and non-alignment are shared experiences across the region. These experiences contribute to a principled worldview, which does not readily accept terms defined by realpolitik, and prefers to redefine issues based on precedent.
ঋণগ্রহীতা থেকে ঋণদাতা বাংলাদেশ | 659745|| Bangladesh Pratidin
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Major contract for Payra Port s next dredging phase awarded to Jan De Nul | Hellenic Shipping News Worldwide
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BenarNews
The Bangladesh government’s decision to borrow funds from the central bank’s foreign currency reserves for development projects has analysts warning there is “no check-and-balance mechanism” ensuring accountability.
The government of Prime Minister Sheikh Hasina launched the Bangladesh Infrastructure Development Fund (BIDF) last month, with officials touting it as an innovative way for the South Asian nation to reduce its spending on foreign currencies in paying off expensive loans by international lenders, such as the World Bank and China.
“This endeavor will be for an effective investment of surplus foreign currency reserve,” Hasina said during the virtual signing ceremony on March 15.
No decision yet on lending to private sector from reserves
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