Bangladesh is not fully prepared to face the economic and institutional challenges that will follow its graduation from the least developed country (LDC) category later this year, business leaders and bankers said yesterday, warning that it could expose the economy to serious risks.

For Bangladesh to thrive after graduation, its institutions must step up. Courts and regulators need to enforce contracts efficiently.

Short-term image building rather than long-term readiness drove the eagerness to graduate.

We must build domestic institutions and strengthen negotiation capacity to leverage opportunities after LDC graduation.