Reviving Depressed Economy Top Challenge for Bangladesh

Bangladesh’s economy is in a deeply depressed state, and restoring stability will be the country’s biggest challenge in the coming days, Investment Corporation of Bangladesh (ICB) Chairman Abu Ahmed said on Monday.

Speaking at the 12th ICSB National Award ceremony in Dhaka, he said the current economic condition is unsustainable and requires urgent corrective measures. “The economy is in a very depressed situation. Pulling it out of this state will be the biggest challenge for Bangladesh going forward,” he said.

Abu Ahmed noted that when he assumed leadership of the state-owned ICB, the institution itself was financially fragile and continues to depend on government support to operate. He said this reflects a broader problem across the national economy.

He alleged that for years, loss-making institutions were portrayed as profitable, budgets were overstated and revenue collection figures were inflated through misleading data. “We are now paying the price for providing inaccurate information about the economy,” he said, warning that any attempt to conceal the current reality would push the country into greater risk.

Highlighting the growing debt burden, he said Bangladesh is approaching a debt trap, with external debt nearing $110 billion, up from less than $50 billion a decade ago. “This trend cannot be allowed to continue,” he added.

Despite the challenges, Abu Ahmed expressed optimism that restoring transparency and accountability in economic management would help revive the economy and gradually strengthen all sectors.