Dhaka, Jan. 13 -- Bangladesh recorded nominal economic growth under the previous regime. The headline performance, however, concealed deep-rooted structural weaknesses from entrenched corruption, weak fiscal discipline, and severe governance failures. These deficiencies strained the economy, leading to a sharp build-up of public debt and one of the highest non-performing loan (NPL) ratios globally, estimated at 35.7 per cent. This alarming figure reflected widespread financial mismanagement and systemic abuse within the banking sector.

Foreign exchange reserves deteriorated rapidly, falling from US$34.3 billion at the end of 2022 to US$20.48 billion by July 2024, a nearly 40 per cent decline mainly due to capital flight and fund siphonin...