Bangladesh became troubled after Sri Lanka and Pakistan

Delhi. Economic crisis is being seen in India’s neighboring country Bangladesh. Many measures have been taken here including import ban from April 2022, but the condition of the country is not improving. The prices of fuel and cooking gas are continuously increasing in Bangladesh and it is directly affecting the industries. Inflation is on the sky in Bangladesh due to cash crunch. The public in Bangladesh is continuously demanding relief from the government. The deplorable condition of Bangladesh is becoming even more worrisome, as it is unable to issue letter of credit due to lack of sufficient currency reserves.

Regarding the plight of Bangladesh, experts say that the country is in trouble due to the foreign exchange crisis, while the economic front is collapsing due to illegal transactions. Many commercial banks have also stopped their transactions with Bangladesh. Various opinions have also come forward regarding the shortage of foreign exchange in Bangladesh. Saleh Uddin Ahmed, former governor of Bangladesh Bank, has raised questions on the government. He says that the government should take the right steps in time. If the government investigates over-invoicing, then the crisis can be controlled.

International Monetary Fund helped, Bangladesh got some relief
The International Monetary Fund (IMF) has signed a $4.7 billion support loan for Bangladesh. This will give great relief to Bangladesh. This will definitely reduce the rising prices of fuel and food cost. With this loan, the foreign exchange crisis will also reduce to a great extent. Foreign exchange reserves in Bangladesh had dropped from $46 billion to about $34 billion. Now the direct effect of getting the IMF loan will be seen on the common citizens. In fact, due to the war between Russia and Ukraine, the economy of Bangladesh was badly affected and the prices of petroleum products have skyrocketed here.