The New Nation - Internet Edition

The just born baby takes his first breath of life with an inherited foreign debt of US$ 151 (BDT=10,419). It was less than half ten years back. It is because the country has an outstanding of US$ 19,000 million (as of 2006). Yet after another decade this loan burden will simply be more that double the present amount. What a good future prospect is on the card for baby?

Who are (were) the beneficiaries of this huge loan?

"Only 25 percent of foreign loan has gone to the doors of the people, 25 percent of the loan had to be repaid, 30 percent has gone into the pockets of corrupt bureaucrats, politicians and commission agents and another 20 to the urban-rural elite civilians", disclosed on expert.

Going by the rule of maths, I was guessing on the cumulative loan amount (in an increasing loan demand and default culture scenario) that would come up at the end of 2077 (expected life span of the baby). It makes me really sick. However, I did not give up hopes as because loan outstanding beyond a reasonable time game becomes 'time barred' automatically. That is the rule.

That is the kid has still promising future ahead. God keeps him.

Nazle Noman

Bannani, Dhaka