Bangladesh faces major economic crunch, much like Sri Lanka 2022
Wednesday, 21 August 2024 03:38
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Even before the student protests, Bangladesh was already facing a major economic crisis, arguably of the same magnitude as Sri Lanka’s.
The country has been grappling with heavy government borrowing, an acute shortage of foreign exchange, high inflation, and an alarming level of bank defaults by the private sector.
On top of these issues, the impact of the student protests has further exacerbated the situation. The protests have led to a stoppage of economic activities, particularly affecting apparel exports, and have caused damage to public infrastructure.
Therefore, for anyone taking over the management of this economy, it will be a very challenging task. It requires enduring short-term pains and patience to turn around a market with 170 million people.
Even before the student protests, Bangladesh was already facing a major economic crisis, arguably of the same magnitude as Sri Lanka’s.
