After Sri Lanka, now another country in Asia is facing economic crisis. Actually, the clouds of economic crisis have started hovering in Bangladesh too. The foreign exchange reserves of Bangladesh have decreased by 42 billion dollars. It can be imported only for five months. The situation is getting so bad that the government has banned foreign travel of government employees and officials to deal with it. Such projects have also been banned by the Bangladesh government, which require importing goods from abroad in large quantities.

Significantly, after the decrease in foreign exchange reserves in Sri Lanka, the economic crisis deepened. There was also a fall in the currency of the country. Soon the foreign exchange reserves also ran out and then it became difficult to import. Because of this an economic crisis arose. In the absence of essential goods, people came out on the streets and they opened a front against the government. In such a situation, now there is a danger of a similar situation arising in Bangladesh as well. Some experts in Bangladesh have attributed the decrease in foreign exchange reserves to the Russia-Ukraine war. It is being said that due to this the prices of essential things have increased.

The news of reduction in foreign exchange reserves of Bangladesh comes at a time when the government has banned the import of luxury and non-essential goods. The government banned the import of washing machines, sports utility vehicles, air conditioners and refrigerators. Finance Minister AHM Mustafa Kamal said that when times are tough, we have to take tough decisions. Referring to the Ukraine war, he said that we do not know when the war will end. In view of the global situation, we have to take decisions. However, economists have said that if the government had taken swift steps, the situation would not have deteriorated so much.

It has been told that the situation in Bangladesh started deteriorating since January. There has also been a decrease in the money remitted by Bangladeshi nationals from abroad. This shortage started from July last year. At the same time, imports kept increasing. Things got worse in the country in February, when only six months’ money was left for imports into Bangladesh. Since then, this crisis has been deepening. The thing to note here is that the value of Taka of Bangladesh is going down.

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