Bangkok:Bangladesh is confronting an additional import burden of $4.12 billion on energy and fertilizer over a seven-month period due to the ongoing crisis in the Middle East, according to Prime Minister's Adviser on Finance and Planning, Prof. Rashed Al Mahmud Titumir.
According to United News of Bangladesh, Prof. Titumir highlighted the financial strain at a high-level conference titled 'An Asia for Everyone Public Services, Social Protection and the Promise of Shared Prosperity,' held at Chulalongkorn University in Bangkok, Thailand. He emphasized that the costs could reach nearly $600 million monthly if the conflict persists, underlining the need for international support to help developing countries manage such global crises.
Prof. Titumir detailed the financial requirements, stating that Bangladesh would need an extra $1.82 billion for liquefied natural gas (LNG), about $70 million for fertilizers, and $2.21 billion for oil imports during the specified period from March to September. He criticized the lack of action by the international community and civil society in addressing these economic challenges, urging them to prioritize the issue at the upcoming World Bank and IMF meetings in Bangkok.
He further commented on the broader issue of inequality, suggesting it is rooted in public policies and political power distribution. He called for addressing these political dimensions to achieve a more equitable settlement.