Muhammad Yunus Faces A Monumental Task In Bangladesh

While the political instability may have been the spark that ignited the recent crisis, the country’s economic challenges have long been brewing beneath the surface. Inflation in Bangladesh has reached record levels, with the overall rate hitting 11.66 per cent in July 2024, the highest in 12 years. Food inflation is even worse, standing at 14.10 per cent, making basic necessities such as rice, vegetables, and cooking oil unaffordable for many families. This surge in prices has been driven by rising global energy costs, increased import prices, and a growing trade deficit.