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Bangladesh PM Sheikh Hasina said her country would not face a situation like Sri Lanka’s economic crisis

Bangladesh Prime Minister Sheikh Hasina said her country would not face a situation like Sri Lanka’s economic crisis, although her government sought loans from global agencies amid a decline in its reserves and rising import costs. In an interview aired ahead of her visit to India on Monday, Hasina said Bangladesh’s economy remained strong despite the impact of COVID-19 and the Russia-Ukraine war. Bangladesh’s $416 billion economy has been one of the fastest-growing in the world for years, but shrinking foreign exchange reserves due to bloated import bills have prompted the government to seek loans from global agencies, including the International Monetary Fund (IMF).

“Bangladesh is always on time (in repaying) our debt; our debt is very low in the context of Sri Lanka,” Hasina said. “Some people have raised the question that Bangladesh will be Sri Lanka, but I can ensure that it will not happen. Sri Lanka on Thursday reached a tentative agreement with the IMF on a loan of about $2.9 billion after the country plunged into crisis due to poor management and the COVID-19 pandemic destroyed its key tourism industry. During her four-day visit to India, Hasina will meet her Indian counterpart and other leaders.

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