Bangladesh faces simultaneous pressure from the IMF program and revenue reforms. Currently, effective PFM reform is not just a development strategy -- it is essential for economic stability.
The timing could not be more appropriate. With election dates announced, the country has slipped into a familiar trance. What is striking is not what is being said, but what is being omitted. There is almost no sustained conversation about how Bangladesh will pay its bills, grow its industries, or persuade its own citizens to invest in their own country again.
The average citizen is no longer buying the old nationalistic slogans. They are tired of inefficiency, corruption, and delay. They have reached a pragmatic conclusion: they do not care who owns the cranes; they care about how fast the ships turn around.
Keeping India and Pakistan as the main mirrors will always make Bangladesh look respectable. but adding Vietnam to the frame as a benchmark is more meaningful.
The development of Chittagong Port is more than just a project; it is the key to Bangladesh's next wave of economic growth. If we cannot raise the FDI-GDP ratio from 0.3% to 2.5%, the ambition of becoming a trillion-dollar economy will stay just a dream.
The reality in Chittagong is: three days at the outer anchorage, indefinite waiting inside the port for a berth, one week to discharge using small lighter vessels, discharge stops if the sea is rough -- all added up, instead of 2 days, in some cases it is taking 25 days.
Commercial banking in Bangladesh is dominated by relationship banking, which is what breeds irregularities. But the way forward lies in reform rather than rejection.
The time for action is now. Bangladesh must look beyond Western-dominated financial institutions and embrace a multipolar financial world that offers better terms, greater sovereignty, and sustainable development.
It is possible to create an economy that works for everyone. All that is needed is the vision and the political will to see it through.
The interim government has done a creditable job stabilizing the economy and fixing the mess it inherited. But the incoming government is still going to have its work cut out for it, and we will need very safe hands to ensure that Bangladesh gets back on track.
A contract which commits Bangladesh to a 30 year arrangement with foreign operators involving sensitive and vital parts of our national infrastructure is a contract an interim government with no official opposition should feel neither empowered not entitled to sign.
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.
