How Bangladesh’s Economy Was Siphoned Dry

Published On Dec 4, 2024, 12:00 AM

Bangladesh's currency has been significantly affected by financial mismanagement and corruption during Sheikh Hasina's regime, leading to substantial losses for the banking sector. The new central bank governor estimates that around $17 billion was siphoned off, while other estimates suggest losses could exceed $30 billion due to fraudulent loans and poorly regulated banking practices. As a result, many Bangladeshi banks are struggling to maintain stability, limiting credit and facing withdrawal demands from customers.

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Stock Forecasts

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Negative

The ongoing turmoil in Bangladesh's banking sector is likely to lead to a decline in investor confidence, negatively impacting the country's economy and financial markets. As banks face liquidity crises and customer withdrawals, foreign investments may decrease, signaling a bearish outlook on the Bangladeshi economy.

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