Economist Ahsan H Mansur said the Moody’s ratings will directly affect four to five sectors. Private sector entrepreneurs will have to spend more on interest to get foreign loans,” said the executive director at the Policy Research Institute. He said the downgrading of the sovereign means all the banks’ ratings have been downgraded by one notch automatically. “The cost of foreign trade and transactions, such as issuance of LCs, foreign currency supply deals, payment for LCs through a third bank, will increase. “We’re checking how much the interest on foreign loans will rise or if we face any problems in getting long-term loans.

Source: bd News24 June 03, 2023 14:09 UTC