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Hasina Announces Economic Stabilization as Priority

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  Published in Politics and Government on Saturday, February 14th 2026 at 13:06 GMT by reuters.com
      Locales:

DHAKA, February 14th, 2026 - Sheikh Hasina, poised to begin her fifth consecutive term as Prime Minister of Bangladesh, today outlined her government's priorities, emphasizing economic stabilization and improved governance as key objectives. Addressing a press conference following a meeting with representatives from various foreign missions in Dhaka, Hasina acknowledged the significant challenges facing the nation, including lingering concerns regarding the fairness of the recent December election and mounting international scrutiny.

Expected to be sworn in on Monday, Hasina presented a determined front, stating, "Our first priority is to stabilize the economy and ensure good governance." She indicated a commitment to pursuing established development initiatives despite the current economic headwinds. This pledge comes at a crucial time for Bangladesh, which has been grappling with rising inflation, a weakening currency, and a decrease in foreign exchange reserves. The Prime Minister signaled a willingness to seek assistance from international financial institutions to bolster the country's economic standing.

The December election, while resulting in a victory for Hasina's Awami League, was far from uncontested. Violence marred the polling process, and a boycott by the primary opposition party - the Bangladesh Nationalist Party (BNP) - cast a long shadow over the results. This led to widespread questions about the election's legitimacy and triggered criticism from numerous international observers and governments. The BNP alleges widespread irregularities and voter intimidation, claims that continue to fuel political tension within the country.

Responding directly to these concerns, Hasina stated, "We are aware of the concerns and will take steps to address them," though she refrained from providing specific details. This vague reassurance is likely to do little to appease critics, who are demanding greater transparency and independent investigations into the allegations of electoral misconduct. The credibility of the election is now a key factor influencing Bangladesh's relationship with key international partners, including the United States and the European Union.

Economic Challenges Deepen

Bangladesh's economic situation is complex. While the country has experienced significant economic growth in recent decades, transforming itself from one of the world's poorest nations to a lower-middle-income country, that progress is now under threat. The COVID-19 pandemic, coupled with the global economic slowdown and rising energy prices - exacerbated by geopolitical events like the ongoing conflict in Ukraine - have significantly impacted Bangladesh's economy.

The garment industry, a vital engine of Bangladesh's economic growth and responsible for a substantial portion of its export earnings, is facing increasing pressure from global recessionary fears and shifting consumer patterns. Falling demand in key markets like the US and Europe has resulted in production cuts and job losses, further compounding the economic difficulties.

Furthermore, Bangladesh is heavily reliant on imports for essential goods, including fuel and food. The depreciation of the Bangladeshi Taka against the US dollar has made these imports more expensive, contributing to rising inflation and eroding the purchasing power of ordinary citizens. Foreign exchange reserves have dwindled, prompting the government to implement austerity measures and seek financial assistance.

Governance and International Relations

Beyond the economic challenges, Hasina's government faces persistent calls for improved governance, greater transparency, and protection of human rights. Concerns remain regarding freedom of expression, the treatment of journalists and activists, and the rule of law. Addressing these issues will be crucial to restoring international confidence and attracting foreign investment.

Hasina assured that her administration would respond to international pressure and work towards ensuring stability within the country. However, navigating these demands while maintaining national sovereignty and addressing domestic political concerns will be a delicate balancing act. Bangladesh's strategic location in South Asia and its growing economic importance mean that its stability is of interest to regional and global powers alike. The coming months will be pivotal in determining whether Hasina's government can successfully address the multifaceted challenges facing Bangladesh and secure a sustainable future for its citizens. The international community will be watching closely to see if promises of reform translate into tangible action, and whether Bangladesh can reclaim its trajectory as a development success story.