Bangladesh survived many mistakes during the past several decades because growth was strong enough to absorb them. The next decade may be different. The countries that prosper in this new world will not necessarily be those with the smartest experts.
The government deserves credit for pushing out its electoral promises at the soonest, without being bogged down by the bureaucratic miasma. It deserves credit for providing a long-term aspirational strategy. However, the government must now pivot to confront the crisis of confidence that is imminent.
A farmer in Rangpur, a student in Barishal, an entrepreneur in Khulna, or a patient in Sylhet should not feel disadvantaged simply because they live outside Dhaka.
Bangladesh is not heading for a crisis, but it faces notable constraints. Inflation remains high but not hyperinflationary. Debt levels are manageable but not insignificant. Institutional guarantees of electoral reform implementation will determine whether this change in government will be long-lasting.
