Synopsis
As Bangladesh recently sought International Monetary Fund’s aid, doubts were being raised that the country was becoming the next Sri Lanka. But foreign-policy experts and economists who observe Bangladesh closely term this as a ‘false alarm’. Unlike Sri Lanka, Bangladesh has chosen to stay equidistant to India and China. Should India do more to get closer to Bangladesh?
On May 1, 2022, executive board of the International Monetary Fund (IMF) approved the creation of a new Resilience and Sustainability Trust (RST) aiming “to help low-income and vulnerable middle-income countries address longer-term structural challenges that pose macroeconomic risks, including climate change and pandemics”. Bangladesh recently sought a USD4.5 billion loan from the IMF under RST. With this, concerns about its economic conditions
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