Courtesy: Gateway House
Bangladesh’s economy, already weak at the time of the August 2024 coup, has been on a downward spiral since. Banks are insolvent and cannot lend, business confidence is low, and investors are staying out. These issues will worsen the ongoing radicalisation, extremism and violence in the country.
Courtesy: Reuters
India’s South Asian neighbours have all seen sharp currency devaluations since early 2022. These are a result of maintaining artificially strong exchange rates, made possible by remittances from migrant workers. However, by postponing the inevitable devaluations, these states have made their economic crises much worse.