Thinking Aloud: Volume IX, Issue 7: December 1, 2022

The December 2022 issue of Thinking Aloud focuses on the contemporary issues facing Bangladesh, including challenging priorities facing Bangladesh’s economy, multifaceted impacts of food vulnerability, external debt, and the recently held COP27 conference. The first page article titled “Addressing two challenging priorities of the Bangladesh economy” points out that the two major concerns of our current economic crisis are risks to food insecurity of a sizeable section of the population due to high inflationary pressure and the danger of macroeconomic instability due to the sharp depletion of foreign exchange reserves. The article stresses that though Bangladesh is not in a precarious situation in terms of reserves, there is a danger if the fall of the reserve level does not slow down. The article also suggested that, in addition to boosting agricultural production, facilitating imports, and addressing market imperfections and manipulation through monitoring, the government should expand social protection programs immediately to support the people reeling under escalated food prices. The second and third pages of this issue present three more articles. The article titled “Impact of inflation on households’ consumption expenditure” contextualises the rise in the price level, especially food prices, which would severely affect the poor and economically vulnerable population in Bangladesh. The article suggested that the general people should be supported through subsidised food items, extended Open Market operations, greater coverage of the safety net etc. The second article, titled “The dynamics of external debt scenario in Bangladesh”, remarks that the foreign debt scenario of Bangladesh requires a closer inspection and prudent steps due to the state of various macroeconomic indicators. The article reiterates the importance of acknowledging the changing pattern of the external debt scenario of the nation and preparing ahead. The third article, titled “COP27: What is there for developing countries?”, critically examines the issues that were expected to be discussed along with the ones that were discussed in COP27. The article articulates that the ambitious climate actions will require transformational changes over the next decade- from the ways to generate power to growing our food. The fourth page draws attention to the events that took place in November 2022.