Inflation, unrest challenge Bangladesh’s ‘miracle economy’

JULHAS ALAM
Associated Press

DHAKA, Bangladesh (AP) — Bangladesh’s economic miracle is under severe strain as fuel price hikes amplify public frustrations over rising costs for food and other necessities. Protests have erupted in recent weeks, adding to pressures on the government of Prime Minister Sheikh Hasina, which has sought help from the International Monetary Fund to safeguard the country’s finances. Experts say Bangladesh’s predicament is nowhere nearly as severe as Sri Lanka’s, where months’ long unrest led its long-time president to flee the country. But it faces similar troubles: excessive spending on showcase projects, public anger over corruption and cronyism and a weakening trade balance. Such trends are undermining Bangladesh’s progress toward becoming a more affluent, middle-income country.

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