Transparency International Bangladesh (TIB) recently called upon the government to form an independent "Economic Strategy Advisory Committee" to advise the ways and means to address the potential global economic fallout and ensure continued commendable economic performance achieved so far in a country like Bangladesh despite various odds within the internal and global front. Their call comes against the backdrop of the impending global economic crisis triggered by Covid-19 and Russia-Ukraine war TIB statement clarified.
TIB Executive Director Iftekharuzzaman expressing concern about the cloudy situation in multifarious fronts viewed that "At a time when the world has been already struggling hard to cope with Covid-19 fallout, the Russian invasion of Ukraine has exposed the global economy to an unprecedented crisis including collapse of the global food system that threatens worldwide rise of hunger and famine has to be taken into account. Within this ongoing situation, . Bangladesh cannot remain immune to the impending global economic challenges and uncertainties. The Prime Minister`s thoughtful call amply demonstrated that, not only exercising austerity but exploring other means are necessitated to prevent the crisis that can affect the country immensely. That is why, the government will have to do everything in its capacity to successfully confront the impending crisis in order to strengthen national growth and socio-economic indicators so as to move ahead in the path of sustainable development.
In the context of the home and global scenario, TIB called upon the government to immediately form an independent Economic Strategy Advisory Committee to complement and strengthen the efforts of the government to help formulate a pragmatic strategy in the form of advice so as to address the potential economic crisis in the country to ensure enviable economic performance in line with global changes.
Taking into the ever-increasing socio-economic fallout of climate change that has been severely exacerbated by the twin evils of Covid-19 and Russia-Ukraine war, TIB specifically prescribed that the crisis situations and challenges of economic and financial management can strategically arrest illicit financial transfers including money laundering which has been contributing to increased poverty, marginalisation and deprivation of fundamental human rights of common people in all strata of the society.
TIB envisioned such an independent committee consisting of nationally and internationally reputed Bangladeshi economists, financial experts and other relevant social scientists, that will add a great value to the government`s efforts, through setting up proper strategic guidelines, focussing the ray, on how Bangladesh can escape and minimise the adverse effects of internal and global crisis. Mentioning about the Perspective Plan 2021-2041, that remain on course like the status of high middle-income country by 2031 and high income by 2041 side by side with the specific targets of eliminating extreme poverty by 2031 and again achieving zero poverty by 2041, could be achieved easily if such a committee be constituted in the best interest of the country. of growth to policies of meaningful development.
