India, Jan. 7 -- If one looks at what the Indian media states about Bangladesh, the overriding conclusion is that the real challenge for the interim ruler, Muhammad Yunus, is to control the extremist forces, and bring order to the ongoing political turmoil. The reality, however, is different. Today, Bangladesh faces an unprecedented economic crisis. Political stability, while welcome, will not solve the problems. Even if a political party wins a majority in the forthcoming elections (February 2026), the nation's economy may spin out of control.

A few days ago, media reports in Bangladesh indicated that exports, particularly merchandise exports, declined for the fifth consecutive month in December 2025. In services, the nation is a non-pl...