ABSTRACT
The global economy is experiencing a multitude of transitions in terms of economic and geopolitical rebalancing, ongoing technological change and emerging social and political risks. These transitions are expected to have far-reaching impacts on Bangladesh’s economy, which is becoming increasingly integrated with global and regional economies. As Bangladesh braces for graduation from the least developed country (LDC) group, its strategies will need to be contextualised in this transformed global landscape. Pertinent issues such as declining availability of official development assistance (ODA), tepid global economic recovery and protectionist measures by the developed countries, increasing automation and consequent labour market disruption, forfeiture of climate financing opportunities, rising terrorism and conflict, and proliferating illicit financial flows must be taken into cognisance. While preparing for LDC graduation and smooth transition, the government should emphasise not only on reviewing the existing policy regime but also on accelerated and effective implementation of current policies, plans, acts and strategies. Besides, an explicit development strategy in view of the prospective LDC graduation process – taking cognisance of the aforementioned external challenges – may be prepared. However, only domestically oriented efforts will be inadequate as many of the pitfalls require coordinated global solutions. Going forward, Bangladesh must play a leading role in various global platforms pursuing LDC interests.
