Government Policy

No Chinese debt trap in Bangladesh: Chinese envoy

Amid much discussion on the public domain over crisis-ridden Sri Lanka, Chinese Ambassador to Bangladesh Li Jiming on Wednesday reiterated that there is no debt trap in Bangladesh.

“There is no debt trap, especially no Chinese debt trap in this country. At least I can guarantee that,” he told reporters after his meeting with Foreign Minister AK Abdul Momen at the Ministry of Foreign Affairs.

Momen also ruled out the fear of debt trap and said there is no such scope in Bangladesh.

“We’re prudent (while taking loans and its subsequent management). We don’t borrow that much and when we borrow we do it with much calculation,” he said.

Highlighting Bangladesh’s economic strength backed by stronger export growth and remittance inflow, Momen said, “We are capable of (loans) repayment.”

Asked about the situation in Sri Lanka, he said, “Let us see what happens. We’re yet to sit to discuss it.”

On a number of occasions in the past, the FM said there is no scope for Bangladesh to get into Chinese “debt trap,” noting that Bangladesh has borrowed the highest amount from Japan.

“We remain very careful. There’s no scope that we’ll fall into debt trap. We cut our coats according to our clothes,” he told reporters earlier.

Hecsaid Prime Minister Sheikh Hasina takes decisions through proper scrutiny and analyzing every aspect and in no way Bangladesh should be compared with the Sri Lankan case.

Source: United News of Bangladesh