Confronted by a fuel crisis beyond its control, Bangladesh’s government is spending hundreds of millions of dollars each month to insulate its people from surging prices.
But as growth slows and inflation rises, the new government’s reform plans are being tested before it has had much time to clean up the country’s bad banks or retool its young, abundant – but underemployed – workforce for the AI era.
Prime Minister Tarique Rahman took office on February 17, elected on promises of sweeping economic and social reforms to turn the country of 175 million people into a US$1 trillion economy within a decade.
An interim government had steered the country through the treacherous months following Sheikh Hasina’s downfall in 2024. She was ousted by a student-led revolt after what they claimed were 15 years of repression, corruption and bad governance.