After the Corona epidemic, there has been a steady decline in the International Monetary Fund (IMF) and the borrowers are only around India. It is our neighbors who are leading the way in taking loans. Talking about debt, Pakistan is at the top of this matter, while Sri Lanka is at number two and now Bangladesh (Bangladesh) has also come at number three. Bangladesh is now going to start talks with the International Monetary Fund (IMF) to take a loan.
Bangladesh has submitted its application for loan to IMF just a few days back. Bangladesh has become the third such South Asian country, which has gone under the shelter of the IMF, amid the growing economic crisis around the world.
Who has taken how much loan?
Pakistan's name comes at the top in taking loans from foreign exchange reserves. In the year 2021-2022, India's neighboring country took a debt of $10.886 billion in the first three quarters, which was $ 13.38 billion in the full fiscal year 2021. Debt stood at $1.653 billion in the first quarter of 2022 as compared to $3.51 billion in the first quarter of 2020-2021. But debt increased to $4.357 billion in the second quarter of 2022 and $5194 billion in the third quarter.
On the other hand, if we talk about Sri Lanka, the loan taken by the Government of Sri Lanka from the Foreign Monetary Fund has now increased to $ 51 billion. In which $ 6.5 billion belongs to China and both countries are reconsidering it. Sri Lanka will have to pay $874 billion for its debt this year. Right now the World Bank has agreed to lend $600 million to Sri Lanka.
Bangladesh has so far taken a loan of $ 762 billion from foreign exchange reserves, after which it is the third neighboring country of India to have taken such a lot of debt. Afghanistan is at number four, which has so far taken a loan of $ 378 million from foreign exchange reserves, Myanmar is at number five and Nepal is at number seven.