Why Bangladesh won’t face Sri Lanka-like crisis, explains economist Binayak Sen

Director General of Bangladesh Institute of Development Research (BIDS) Dr Binayak Sen on Saturday said Bangladesh has no chance to face a Sri Lanka-like financial crisis as the country’s major economic drivers are on track.

According to him, agriculture, export, remittance, and non-export manufacturing sectors are the key drivers of the Bangladesh economy.

“We have a good agriculture sector. Export income is healthy and non-export manufacturing sector is also good,” Sen told a discussion on ‘‘Current State of the Macroeconomy: Bangladesh Perspective’’ organised jointly by the Institute of Chartered Accountants of Bangladesh (ICAB) and the Economic Reporters’ Forum (ERF).

Inward remittance has declined slightly because of the revival of informal channels after a long break during the coronavirus pandemic, said the BIDS chief.

Sen also said presently, in terms of economy, Bangladesh is in a better position than India and Pakistan.

“As the major economic drivers are still in good shape, I don’t see any pressure at the moment,” he added.