The vision of an Asia less dependent on the US dollar is not impossible, but it is certainly difficult. Bangladesh’s experience vividly demonstrates why.
Britain’s industrial revolution was fueled by the plunder of Bengal. What we call progress in London was poverty in Dhaka. With Hasina gone, Bangladesh has a chance to reclaim its stolen future and build Bangladesh 2.0 -- democratic, innovative, and prosperous.
Billions could have been recovered through proper asset recovery strategy. Why was that not done? Why were experienced legal experts not retained? Serious questions need to be answered.
For all the talk about reforms, as far as the economy is concerned, Professor Yunus and his cabinet have behaved explicitly like a transitory administration. How do we make up for the past losses? That is something for the elected government to figure out.
Inflation is coming down but it will take while before this translates into economic growth revival
NBFIs can be saved -- but liquidation is not the answer. Bangladesh Bank needs to impose immediate and strict oversight, remove the compromised directors and managers, and install competent, independent professionals.
It is time for UK government to get serious when it comes to cracking down on illegal money looted by despots from the developing world and parked in London.
The only way for Bangladesh to navigate the post-LDC graduation scenario is to invest in and promote the SME sector. SMEs are the lifeblood of economic growth and we continue to ignore them at our peril.
An inefficient private local company is driving port operations into the ground. We could enhance exports by bringing in an international operator. If we don't act now, it will only cost us that much more in the future.
