Bangladesh’s interim government is launching an investigation into alleged data inaccuracies that may have exaggerated the country’s economic performance during former Prime Minister Sheikh Hasina’s administration, Bloomberg reports.
The move aims to combat corruption that has affected the nation for the past 15 years, according to the report.
Economist Debapriya Bhattacharya has been appointed to create a “white paper” detailing alleged mismanagement, with an initial report due to Nobel laureate Muhammad Yunus, who is leading the temporary government.
“[Economic] data were manufactured. Data were suppressed. I call that data anarchy,” Bhattacharya said.
Despite being seen as a success story due to its garment export industry, he claims that misleading statistics on exports, inflation, and GDP have led to significant vulnerabilities in the economy.
Hasina, who recently resigned and fled to India amid protests, left Bangladesh with an enormous debt of 18.36 trillion taka ($153 billion), equivalent to three years’ worth of the national budget.
As part of the interim government’s efforts to boost economy, Governor Ahsan H. Mansur announced ongoing talks with the International Monetary Fund (IMF) for $3 billion in emergency aid, alongside efforts to boost foreign exchange reserves strained by recent export disruptions.
Despite the current political and economic turmoil, Bhattacharya believes Bangladesh remains on track for potential graduation from its least developed country status in 2026.
