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From Bangladesh to Sri Lanka, India's neighbours mired in economic crises

Some are discovering the virtues of deeper integration with the country

Subhomoy Bhattacharjee New Delhi

Premium

6 min read Last Updated : May 23 2023 | 10:00 PM IST

This summer, hardly any of India’s neighbours seem to have cheerful economic data to offer.

Bangladesh has done what cash-strapped economies often do. Since the end of March it has stopped publishing its foreign exchange reserves data. As of end March 2023, it reports a forex reserve of $31 billion, just enough to meet four months of imports but the IMF has asked it to reclassify the numbers, which will take it down another $8 billion.

Pakistan has changed its finance secretary this week, with its Budget due in less than a month. The IMF bailout package is still to be finalised and will depend on how the government tackles the difficult task of cutting energy subsidies.