Bangladesh

The high-stakes meeting brought together 20 leaders from various political parties and organisations in two separate sessions, as Yunus sought to shore up support amid reports of internal tensions within his interim government and growing external pressure.

The army, which played a key role in ushering in the interim setup, has grown wary of Yunus's intentions.

China has grown into one of Bangladesh’s most significant economic partners. In FY 2023–24, Bangladesh imported goods worth $16.637 billion from China, accounting for 26.4 per cent of the country’s total imports, indicating the growing demand for Chinese products.

Adding to the complexity, the Power Grid Company of Bangladesh has yet to complete six substations critical for evacuating electricity generated at the Meghnaghat hub. Sources say these substations are unlikely to be ready before August.

This project will help the country recover from this flood and build resilience to future floods by addressing damages to infrastructure, agriculture, and livelihoods in Eastern districts.

Bangladesh Bank has confirmed the formation of a task force to evaluate the situation. It is also drafting a new “Bank Resolution Act” that will provide a legal and procedural framework for the proposed mergers and acquisitions.

This slump is largely attributed to domestic unrest, contractionary monetary and fiscal policies, and a broader climate of uncertainty that has discouraged both foreign and domestic investment.

Experts say that if Bangladesh is to achieve its ambition of becoming an upper-middle-income country by 2031, it must confront the growing dominance of business elites in its political system.