Prime Minister Sheikh Hasina dismissed worries that Bangladesh may follow Sri Lanka’s example, claiming that the country’s economy remained strong despite the Covid-19 assault and the turmoil in Ukraine and that her government always exercised extreme caution when taking out loans.
In a conversation with ANI, Prime Minister Hasina stated that present issues plaguing the world as a whole did not just affect Bangladesh.
“Our economy is still in excellent shape. However, the Covid-19 pandemic and the current Ukraine-Russian war were challenges. That has an impact on this. However, Bangladesh always makes on-time payments on all of its debts. Consequently, we have a relatively low debt to income ratio. The trajectory of Sri Lanka’s economy and its development are (planned) very, very carefully, “said the prime minister of Bangladesh.
Hasina argued that her nation was economically secure as a result of her balanced approach. She claimed that Bangladesh never accepted a loan until it was certain it would profit from the project.
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“I believe there is an economic crisis around the world. We’re both. However, there are certain people that bring up this subject. Oh, Bangladesh will be this and that, Sri Lanka. However, I can guarantee that won’t happen. Because we… always consider the potential return on all development initiatives that we prepare and put into action? Who exactly would profit from this? Otherwise, I won’t undertake any projects that are just financial “she said.
According to Hasina, Bangladesh’s government always calculates the expected return on any loan it considers before moving forward with the project. “How will our economy change? Priority is given to the benefit of the people. Thus, we are implementing all the goals and programs. We avoid spending money on unnecessary things “And Hasina.
Many experts agree that the collapse of the Sri Lankan economy was caused in part by debts that were extended by nations like China for large-scale projects that did not yield a comparable return. These loans are often referred to as debt traps, to which developing nations are particularly susceptible. However, Hasina gave insight into how Bangladesh runs its business.
According to Hasina, her government considers plans in a very thorough way.
“And since the plan is being developed in a highly calculated manner, I believe we won’t encounter a circumstance comparable to this one. Not only that, but when the Covid-19 outbreak began, I called on our people to help with the policy. We gave them all the assistance and feedback they needed, down down to the village level, and we also urged them to grow as much food as they were able to. I have always agreed with what they recommend. You should raise your own food so that we can rely on no one else, “she stated.
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However, Hasina acknowledged that her nation had experienced certain issues as a result of the turmoil in Ukraine. “Without a sure, it has negative effects, particularly with regard to the items we purchase from other nations, she added.
