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BD backslides in reducing inequality

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Staff Reporter :

Bangladesh has experienced a significant setback in its commitment to reducing inequality, dropping 17 spots to rank 124th out of 164 countries in the 2024 Commitment to Reducing Inequality (CRI) Index.

Oxfam and Development Finance International (DFI) released the fifth edition of the index today (21 October) using the latest data from government budgets. Bangladesh was 107th in the 2022 index, moving six notches up from the previous analysis in 2020.

Down from the 2nd position in the previous edition, Bangladesh now stands in 5th place in South Asia, only ahead of India (127th), Pakistan (141st), and Afghanistan (144th).

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Maldives leads in South Asia in its commitment to reducing inequality, ranking 66th globally, followed by Nepal (115th), Sri Lanka (118th), and Bhutan (122nd).

The index ranked 164 governments on their policies regarding public services (education, health and social protection), progressive taxation, and workers’ rights – which are central to reducing inequality.

This year’s edition shows that the majority of countries are backsliding across all three critical areas for the first time since the index began in 2017.

Overall, 84 per cent of countries have cut investment in education, health and social protection, 81 per cent weakened their tax systems’ ability to reduce inequality, and in 90% of them, labour rights and minimum wages have worsened.

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