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India needs to weigh its options in Bangladesh

Supporting friendly nations is necessary. However, it is time Delhi must question the unstinted support to a hugely unpopular Bangladeshi leadership, which has been in power for 15 years

September 01, 2023 / 15:02 IST
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Bangladesh Prime Minister Sheikh Hasina will be visiting India next week and a meeting is scheduled with Prime Minister Narendra Modi. (File image)

It is natural for the dog to wag the tail. The tail must not wag the dog. India should remember that in its dealings with Bangladesh and the ruling Sheikh Hasina government of Awami League. The Bangladeshi Prime Minister will be visiting India next week in connection with the G20 summit. Meeting Prime Minister Narendra Modi is the primary objective of this visit.

Hasina is expecting India to offer up to $1.5 billion in aid. It would help Dhaka meet the conditionalities to get the second tranche of the $4.7 billion loan from the International Monetary Fund (IMF), in November, ahead of the election in December-January. As of July, Bangladesh’s reserve, net of highly sticky foreign currency loans offered to businessmen close to the ruling party, dropped to $ 23.65 billion, equivalent to the import bill of four months. IMF wants Bangladesh to maintain a net reserve of $24 billion. The IMF loan is peanuts to Bangladesh’s foreign currency requirements. But it would be a validation of the economic management of the Hasina government and would open doors to loans from China and other destinations.

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Supporting friendly nations is necessary. However, it is time Delhi must question if the unstinted support to a hugely unpopular Bangladeshi leadership, which has been in power for 15 years through manufactured mandates, has outlived its purpose. A much bigger question is, who is in the driving seat in the India-Bangladesh relationship? Going by the sequence of events since 2014, it seems Delhi has put all eggs in one basket. Apparently, Dhaka is making full use of it by forcing India to comply.

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