The World Economic Forum’s Global Risks Report 2025 paints a stark picture of the economic landscape of Bangladesh, highlighting inflation as the most pressing risk facing the nation.
As per a report published in this newspaper yesterday, with a 12-month average inflation rate soaring to 10.34 per cent in 2024, up from 9.48 per cent in 2023, the interim government is grappling with a crisis leaving citizens struggling to make ends meet.
The devaluation of currency and dwindling foreign reserves only exacerbate the situation, creating a perfect storm of economic instability.
The report attributes this turmoil to weak governance during Sheikh Hasina’s administration, which allegations of corruption and mismanagement have marred.
Such governance failures have led to reduced investment, rising unemployment, and sluggish business growth, all contributing to a bleak economic outlook.
The urgency of the situation cannot be overstated; the people of Bangladesh deserve a government that prioritises their welfare and economic stability.
Moreover, the report highlights pollution as a critical risk, with Bangladesh ranking among the top ten countries facing severe environmental challenges.
Air, water, and soil pollution threaten public health and economic productivity, necessitating a “pollution-conscious green transition.
” This transition is not merely an environmental imperative but an economic one, as sustainable practices, can create jobs and stimulate growth.
Extreme weather events, driven by climate change, further complicate the economic landscape.
Floods, heatwaves, and other natural disasters are increasingly impacting millions, exacerbating the already precarious situation.
The need for a robust response to these climate risks is urgent, as they threaten to destabilise both the economy and society.
The Global Risks Report underscores the necessity for coordinated domestic and international efforts to tackle these interconnected challenges.
Bangladesh must prioritise economic reforms, enhance governance, and invest in sustainable practices to mitigate inflation and pollution.
The international community, too, has a role to play in supporting Bangladesh through this tumultuous period.
As we look towards the future, it is clear that Bangladesh stands at a crossroads. The choices made today will determine the nation’s trajectory in the coming years.
The government must act decisively to address these risks, ensuring a stable and prosperous future for all its citizens. The time for action is now.
