The recent violent upheaval that led to a military-backed regime change in Bangladesh, followed by the country’s pleas for $6.5 billion in international bailouts, raise concerns about the future direction of the world’s eighth most-populous country.
The toppling of Prime Minister Sheikh Hasina’s government has also triggered an ominous resurgence of radical Islamism, including systematic attacks on religious minorities.
As recently as 2022, Bangladesh was seen internationally as headed toward rapid economic development. But today, nothing better illustrates the unraveling of Bangladesh’s economic success story than its urgent requests for a new $3 billion International Monetary Fund bailout, as well as $1.5 billion from the World Bank and $1 billion each from the Asian Development Bank and the Japan International Cooperation Agency.