Bangladesh’s external debt rose by 3.0 percent to US$103.64 billion by December 2024, according to the latest data released by the Bangladesh Bank. This increase was largely due to increased public sector borrowing.

The figure reflects a $3 billion rise from the same period in 2023 when total external debt stood at $100.64 billion. While the outstanding debt amount decreased slightly from $104.37 billion recorded in September 2024, it remained higher than the June and March levels of $103.41 billion and $98.93 billion, respectively.

The central bank’s data indicates that long-term borrowing constitutes the majority of the debt portfolio at $90.69 billion, with short-term debt accounting for $12.95 billion. The public sector’s share stands at $84.21 billion, while the private sector owes $19.42 billion.

China remains Bangladesh’s largest bilateral creditor, with a total debt of $3.31 billion. Other major lenders include the United Kingdom ($1.14 billion), the Netherlands ($990 million), and the United States ($750 million).

A Bangladesh Bank official, speaking anonymously, attributed the debt increase to the government’s need to finance development projects. The official also noted that since most of the borrowings are long-term, immediate repayment pressure is limited, and the external debt-to-GDP ratio remains below the IMF’s 40 percent threshold.