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No decision yet on withdrawal of Tk1,000 note: Adviser

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The finance adviser to Bangladesh's government has clarified that no decision has been made regarding the withdrawal of the 1,000 Taka note, while also addressing the country's significant debt burden and ongoing negotiations with China for reduced loan interest and extended repayment periods

Staff Correspondent

Publisted at 2:54 PM, Tue Aug 20th, 2024

The interim government has not yet taken any decision regarding the withdrawal of the Tk1,000 notes, said Finance and Commerce Adviser Dr Salehuddin Ahmed.

"As it stands, there is no problem with the circulation of the Tk1,000 note," he said during a press briefing following separate meetings with the ambassadors of China and Canada at the Ministry of Finance on Tuesday (20 August).

The adviser also highlighted ongoing negotiations with China, requesting a reduction in loan interest rates and an extension of repayment terms.

Regarding the government's debt situation, he stated that many projects in the past were undertaken without proper justification, resulting in an increased burden on the state.

"The financial strain also impacts the general populace. Currently, the government is managing a substantial debt burden of Tk18 trillion. The current administration has taken on this responsibility with a commitment to avoid wasteful projects in the future and instead focus on initiatives that benefit public welfare," he added.

China has committed to providing Bangladesh with loans amounting to $7 billion, of which $4 billion has already been disbursed for various projects.

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