From Crisis to Cautious Recovery: Bangladesh's Economic Evolution Post-August 2024
Introduction Between August 2024 and August 2025, Bangladesh underwent a transformative period marked by political upheaval, economic challenges, and significant reforms. The resignation of Prime Minister Sheikh Hasina on August 5, 2024, amid widespread protests, led to the establishment of an interim government under Nobel laureate Muhammad Yunus. This period witnessed a series of events that reshaped the nation's economic landscape. Pre-August 2024: Economic Challenges Under Hasina's Tenure Prior to the political shift, Bangladesh's economy faced mounting pressures: Youth Unemployment: Reaching a three-decade high of 16%, youth unemployment became a significant concern, fueling public discontent and protests. WSJ Inflation: Food inflation soared to 14%, with general inflation at 11%, exacerbated by global economic disruptions and domestic policy challenges. Wikipedia Foreign Exchange Reserves: Reserves dwindled to $20.18 billion by December 2024, pr...