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Updated September 4th, 2022 at 11:45 IST

Bangladesh won't plunge into economic crisis like Sri Lanka, asserts PM Sheikh Hasina

Amid reports of Bangladesh plunging into an economic crisis like Sri Lanka, PM Sheikh Hasina rebutted the claims and said country is moving as planned.

Reported by: Ajeet Kumar
Sheikh Hasina
Image: PTI | Image:self
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Amid reports of Bangladesh plunging into an economic crisis like Sri Lanka, Prime Minister Sheikh Hasina rebutted the claims and said her country is proceeding as per the blueprint designed for development. She underscored that like other countries, Bangladesh was also hit by several external factors such as the coronavirus pandemic and the ongoing Russia-Ukraine war and asserted the country's economy continues to maintain robust shape despite significant hurdles. When asked about the reports of excessive loans taken by Dhaka, Hasina refuted the assertions and said Bangladesh always exercises a high level of diligence when taking any loans.  

"Our economy, still it is very strong. Though, we faced this Covid-19 pandemic, now the Ukraine-Russia war. That has its effect here. But in debt rate, Bangladesh always pays timely all its debts. So our debt rate is very low. In the context of Sri Lanka, our economic trajectory and the development, it is very much planned and calculative," the Bangladesh Premiere told ANI News Editor Smita Prakash on Sunday. 

PM Hasina further said that her country has always maintained a calculative approach while securing the economy and stressed Dhaka takes loans only if it has the potential to benefit the people. "I think the whole world is facing an economic problem. We are also. But yes, some people raise this issue. Oh, Bangladesh will be Sri Lanka. But I can assure you, no, that will not happen. Because all our development plans, what we prepare and we implement, are based on the return? How would people be the beneficiary? Otherwise, I don’t take any project (for) just spending money," Hasina said.

Bangladesh will never plunge into a crisis like Sri Lanka, says Hasina

Speaking about her country's economy, the Bangladeshi PM claimed they don't not spend a single penny on any projects if it does not benefit the larger community. "How our economy will develop? And the people will be beneficiaries, that is a priority. So that way we are taking all the plans, and programs. Unnecessary we don’t spend any money," Hasina added. It is worth mentioning here Sri Lanka has been experiencing its worst economic crisis in history. The nation has huge debt obligations and dwindling foreign reserves, and has been struggling to pay for imports, causing a shortage of essentials. Citizens are forced to stand in long queues for fuel, cooking gas, and medicines. Hasina, however, shared insights about the way Bangladesh manages its affairs. She said that her government takes up plans for consideration in a very methodical manner and reiterated the country will never plunge into a crisis like Sri Lanka.

Image: PTI

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Published September 4th, 2022 at 11:44 IST

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