Bangladesh’s deposits with IMF much higher than its loans

Bangladesh’s outstanding with the IMF is at a comfortable level against its debt entitlement.

Bangladesh’s current debt with the International Monetary Fund is $460 million while its deposit stands at $1.65 billion, according to an IMF report.

Some nine members of Asian Clearing Union (ACU) including Bangladesh have various amounts of IMF debt, the report added.

In South Asia, Bangladesh, Pakistan, Myanmar and Sri Lanka are indebted to the Fund. However, India, Bhutan, Maldives, Iran and Nepal don’t owe IMF any outstanding.

According to the report, Bangladesh has so far deposited $1.65 billion into the IMF coffer, while its outstanding is worth $460 million. Bhutan’s debt quota granted by the IMF is $ 26.20 million and Thimphu’s deposit is $20.40 million.

Meanwhile, India’s debt quota is $16.81 billion and against this amount New Delhi’s deposit is $12.06 billion. The quota of Maldives is $27.20 million and its deposit is 21 million. Meanwhile, Myanmar is far behind in its deposit with the IMF. Against its quota of $6.62 billion, Myanmar’s deposit stands at $1.10 billion.

Recently, Bangladesh, Nepal, Pakistan, Sri Lanka all have asked for loans from the IMF due to the global and local economic crisis. IMF’s talks with Sri Lanka are at a critical stage. Soon they will reach a multilateral agreement. The deal will incorporate the IMF, the World Bank and the Asian Development Bank, among others.

It is worth citing here that Sri Lanka’s debt quota is $7.42 million and its outstanding is $1.14 billion.

Himalayan nation Nepal’s debt quota is $201.20 million while Pakistan’s quota is $2.60 billion which is four-times higher than its $6.93 billion outstanding.

According to the report, the IMF continues to discuss lending to war-torn Ukraine. Their debt quota is $2.58 billion while outstanding aggregated 9.62 billion.

Apart from this, the outstanding debt of Iraq is $93.60 million and Uzbekistan $230 million, respectively.

Meanwhile, Afghanistan’s debt quota is $415.10 million dollars with zero debt at this point.

Many countries including Indonesia, Laos, Lebanon, Libya, Malaysia, the Philippines, Thailand, South Africa are currently having no outstanding.