Bangladesh Economic Crisis: After Sri Lanka, now another country in South Asia is going through difficulties. Bangladesh is in the headlines of the international media these days due to its poor economy. Some people have even started saying that the situation of this country may soon be like Sri Lanka.
Until a few years ago, Bangladesh was presented as a sight to many countries of Asia and the world. Apart from this status of ‘least developed country’, by the year 2026, Bangladesh was being described as a developing country. Then what happened suddenly that this country is now being compared with Sri Lanka which is going through the worst economic condition after independence.
Two years after the Kovid-19 pandemic, the situation in this country is going from bad to worse. Apart from the media of the country, people have started making many speculations about their country on social media as well. Many people are not afraid to even express their apprehension whether their country is going to be like Sri Lanka. However, from the office of Prime Minister Sheikh Hasina to the leading economist, they are not accepting that Bangladesh is also on the way to Sri Lanka.
everything is fine yet why fear
Recently, the US Ambassador to Dhaka has also stressed that Bangladesh can never become Sri Lanka. There is merit in the words of this ambassador and there are many reasons for this. If you combine the economy of both Pakistan and Sri Lanka, then the GDP of Bangladesh is made. The country’s foreign exchange reserves are $39 billion, which is more than double the $18 billion of both Pakistan and Sri Lanka.
On behalf of the Finance Ministry of Bangladesh, it has been said that the total expenditure on GDP is slightly more than 31 percent. While Sri Lanka has a debt of up to 119 percent. Bangladesh’s per capita income is also higher than India and this is a record in itself. But even after this, why the citizens of the country are getting scared. The answer is that Bangladesh, Sri Lanka and Pakistan seem to have similar attitudes of governance in all three countries.
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family business is politics
The way the Rajapaksa family ruined Sri Lanka, the Hasina family in Bangladesh is trying to destroy everything. In 2009, when President Mahinda Rajapaksa and his brother, Defense Minister Gotabaya Rajapaksa, came to power, a decades-long civil war ended abruptly. Similarly, Bangladesh PM Hasina’s father Sheikh Mujibar Rahman had also given freedom to the country from the rule of Pakistan in a war. Hasina and Rajapaksa achieved the rule due to the valor and nationalism of their families earned during the war.
In Sri Lanka, Rajapaksa handed over responsibilities in the government from brothers to his nephews. Similarly, PM Sheikh Hasina has also left no stone unturned in giving posts to her family members in the government. People consider Sheikh Hasina’s daughter Saima Wajed as the successor of the PM. She attends many government programs with her mother.
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Similarly, his son Sajib Wajed holds the post of advisor. He is currently witnessing digital transformation in the country. Hasina’s sister Rehana, nephews, nieces and their children hold important positions. All of them are not only present in diplomatic posts but they are involved in everything from military affairs to parliamentary membership and business.
According to experts, the coming of family members in government and private system like this is a bad sign for the system of the country. Anger at the Rajapaksa family in Sri Lanka did not come out on its own and familyism had troubled the people of the country. Experts agree that there is a similar situation under the rule of the Sheikh Hasina family.
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