a country located in South Asia, was recognized as the “country of the year” in 2024 by the magazine The Economista choice based on that of the autocratic regime that had perpetuated for 15 years under the government of Sheikh Hasina.
The British magazine highlights that “in August, student-led protests forced the departure of Hasina”, who, although she has been a central figure in the country’s economic growth, has become increasingly , manipulating elections and persecuting opponents.
The Economist also notes that “Bangladesh has a history of vengeful violence when power changes hands,” but the current transition looks promising.
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A temporary technocratic government, led by Muhammad Yunus, a Nobel Peace Prize winner, with the support of broad sectors of society, including students, military personnel and businesspeople, restored order and stabilized the economy after a turbulent period.
The decision to award Bangladesh also stands out in the global context. In a year when other countries faced significant challenges in their democratic journeys, Bangladesh managed to stand out by “taking steps towards a more liberal government”.
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The Economist highlights that, despite the risks, such as Islamic extremism and corruption in the opposition party, “the transition has been encouraging”, which demonstrates the population’s resilience and determination to seek change.
However, the magazine does not ignore the challenges that still remain for the country of 151 million inhabitants. The new government will have to deal with complex issues such as repairing relations with India and organizing fair elections.
“In 2025, it will be crucial to ensure that the courts are neutral and that the opposition has time to organize”, highlights the Economistwho sees these steps as essential to ensure that democracy is consolidated and that the country avoids setbacks.
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A Economist also highlights Argentina’s year and Milei’s “shock therapy” on the economy. The measures resulted in a reduction in inflation and borrowing costs, in addition to economic growth in the third quarter.
The magazine, however, highlights that the country still faces the challenge of an overvalued currency, and public support for this shock therapy may not be sustainable in the long term.
