Hard-won optimism about Bangladesh’s trajectory is now being tested
s performed wonders to boost gender equality, which in turn improved many social, health and economic outcomes. Some developing states, including India and Pakistan, viewis an export success, running services in Asia, Africa and the Caribbean.
Sheikh Hasina, in power since 2009, has sought to drive a new phase of growth by splurging on infrastructure. Power has long been patchy. The capital has satanic levels of traffic congestion and air pollution. Crossing the riverine country is a challenge. But last year a huge road bridge opened across the Padma River, the main channel in Bangladesh of the mighty Ganges, transforming the country’s economic geography.
These weaknesses have been laid bare by a familiar set of woes, including the fuel- and food-price inflation and fleeing capital that the war in Ukraine has visited upon the developing world. Bangladesh’s foreign-currency reserves have slumped to under $30bn. Last year the government called in theas a precaution. In January a $4.7bn loan was agreed. Yet the local currency, the taka, remains wobbly.
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