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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. In the context of Sri Lanka, our economic trajectory and the development, it is (planned) very, very calculative,” stated the Bangladesh prime minister.
Ms. Hasina said that her nation was secure on the economic front 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.
According to Ms. Hasina, Bangladesh’s government always calculates the return on investment for the nation after a project is completed anytime it contemplates applying for a loan. “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 Ms. Hasina, her government considers plans in a very thorough way.
