SouthAsia

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.

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.

Papageorgiou's comments come in the wake of political shifts that have disrupted previous reform strategies. The new administration under President Anura Kumara Dissanayake has halted privatization efforts initiated by the previous government, led by Ranil Wickremesinghe.