Time To Reform: Lack Of Transparency May Worsen Economic Situation In Bangladesh

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Swarajyamag.com

by Pratim Ranjan BoseAug 12, 2022 
Time To Reform: Lack Of Transparency May Worsen Economic Situation In BangladeshBangladeshi Taka depreciates further.
Snapshot
  • Unguided, the Bangladesh economy can be a serious drag force on India’s growth ambition.

    Any disruption in Bangladesh will spill over to India’s East and Northeast in no time.

No government is perfect and every economy has its share of skeletons in the cupboard. However, for a democratic nation, Bangladesh made it a norm to remain opaque in its economic affairs. The lack of transparency is now proving the biggest stumbling block for the country to avert a crisis and return to the growth path.

The trouble starts with the basic economic data. Even a simple question like devaluation has no easy answer. If you take Dhaka’s official version based on interbank exchange, Taka depreciated by 10 per cent from 86.27 to 94.95 between 4 May and 10 August.