Fahmida Khatun

The mass movement in July and August 2024 had not only resulted in the tragic death of hundreds and severe injuries to thousands, but also subdued economic activity.

It is too soon to expect any significant economic changes, particularly as the previous government, led by Sheikh Hasina, left behind a fragile economy marked by high inflation, declining foreign exchange reserves, sluggish private investment, a growing debt burden, poor revenue collection, inefficiencies in development project implementation, and weak governance in the financial sector. Repairing the fractures within the economy will require persistent and arduous efforts over an extended period. However, the right strategies and sustained efforts can improve the economy.

Least developed countries (LDCs) and low-income countries face unique challenges in pursuing the SDGs.

Inflationary pressure is being felt severely in the face of wage growth declines.

It is unfortunate that the previous government fell short of its commitments to strengthen the banking sector.

The problems are economic, social and political in nature.

Broadly, the policy measure to control inflation remains the same in the Monetary Policy Statement (MPS) of the Bangladesh Bank for July-December 2024.

Broadly, the policy measure to control inflation remains the same in the Monetary Policy Statement (MPS) of the Bangladesh Bank for July-December 2024.

The mismatch of export data raises a fundamental question about the precision of economic reporting and its ramifications for Bangladesh's economy.

The FY 2024-25 budget falls short of assessing the depth of the economically challenging time.

Mergers cannot be based on the arbitrary decisions of authorities. This amounts to an imposition of the liability of poor banks on well performing banks.

Due to lack of coordinated and coherent measures, inflation continues to rise, notwithstanding the abolition of the interest rate cap since July 2023.

The upcoming budget should adopt a balanced approach to address economic slowdown and inflationary pressure.

The reason for continued high consumer prices in the country despite prices dropping in the international market is a combination of policy and institutional failure.

The mounting debt servicing obligations also threaten to exacerbate the strain on the country’s low foreign exchange reserves.

It is especially important now as Bangladesh is set to graduate from its LDC status and become a developing country by 2026.

In light of the upcoming LDC graduation, exporters need to proactively prepare for changes.

The findings of the WEF’s latest Global Risks Report are quite relevant to Bangladesh

The year 2023 was indeed one of the most difficult ones in the recent history of Bangladesh in terms of economic performance.

Unless a holistic approach is taken, the sector will continue to fall short of international standards.