the International Monetary Fund (IMF) had warned in September about a significant slowdown in the Bangladesh’s economic activities.
Dhaka: The Sheikh Hasian government that ruled Bangladesh for 16 long years fell on August 5 (2024) after the so-called students in Bangladesh launched a massive protest against the quota system in government jobs in July last year. Soon after the resignation, Sheikh Hasina left Bangladesh and flew down to India. According to the reports, during the protests, demonstrators faced bullets, resulting in hundreds of deaths. Today, 16 months later, the unemployment situation in bankrupt Bangladesh has worsened.
Did Hasina lose power due to unemployment?
Many believe that unemployment was the primary reason why Hasina was forced to resign. However, the situation has further detoriated after the new interim government led by Muhammad Yunus took charge. According to a report by AFP, students who participated in the movement now see their dreams shattering. Mohammad Rizwan Chowdhury, a student at Dhaka University, told AFP that the caretaker government led by Mohammad Yunus has made minimal efforts for the youth.
Disappointment with the Yunus Government
According to the Bangladesh Bureau of Statistics (BBS), the number of unemployed people reached 2.66 million by the end of September 2024, marking a 6 percent increase compared to 2.49 million the previous year. A 25-year-old Chowdhury, who participated in protests last year, said, “I haven’t seen any meaningful initiative from the government so far.”
Bangladesh’s Economic Condition Worsens
It is important to note that the International Monetary Fund (IMF) had warned in September about a significant slowdown in the country’s economic activities. Meanwhile, inflation remains in double digits. Tax revenues have declined, while expenditure pressures have increased.
For many, the enthusiasm for Hasina’s initiatives is waning. Chowdhury stated that Yunus has given cabinet positions to student leaders, but the demands of the students are being ignored.