Although the government of Bangladesh has applied for loans from international organisations in response to a decline in its reserves and rising import prices, Prime Minister Sheikh Hasina of Bangladesh has stated that her country will not experience an economic crisis similar to the one in Sri Lanka.
Hasina said that Bangladesh’s economy remained solid despite the effect of COVID-19 and the Russia-Ukraine conflict in an interview with Reuters partner ANI, which was broadcast ahead of her travel to India on Monday. Hasina’s visit to India is scheduled to begin on Monday.
The economy of Bangladesh, which is currently valued at $416 billion, has been one of the fastest-growing in the world for several years. However, Bangladesh’s government has been forced to seek loans from international organisations, such as the International Monetary Fund, as a result of the country’s diminishing foreign exchange reserves (IMF).
Hasina made the statement that “Bangladesh has always been prompt (in paying) its debt; our debt rate is quite low in comparison to Sri Lanka.”
After the country’s economy was thrown into turmoil as a result of poor management, and after the COVID-19 epidemic wiped away its primary tourist business, Sri Lanka secured a preliminary agreement with the International Monetary Fund (IMF) on Thursday for a loan of around $2.9 billion.
Hasina will meet with her counterpart in India as well as other leaders throughout the course of her four-day tour to India.