Since the political turmoil and uncertainty that culminated on August 5, 2024, Bangladesh has been cruising through turbulent waters. While the early aftermath was marked by instability and deep-rooted challenges, what has emerged in its wake as a new Bangladesh-resilient, reform-driven, and rooted in a determination to rebuild stronger than before. And yet, amid this transformation, a certain segment of society clings to narratives riddled with misinformation and disinformation, aiming to cast doubt on the country's progress.
But the facts speak a different language-one of recovery, reform, and resurgence.
The Narrative War: Rumors vs. Reality: Over the past several months, numerous social media campaigns and politically motivated voices have tried to depict Bangladesh as teetering on the edge of collapse. These efforts, often lacking data or grounded analysis, have fueled confusion. Their rhetoric paints a grim picture of chaos, financial ruin, and institutional failure.But beneath these hollow claims lies a robust state machinery striving to patch the wounds of the pre-August mess. The actual state of Bangladesh is more complex, and significantly more hopeful, than these narratives suggest. What the country is experiencing is not collapse-but course correction.
Remittance Boom and Forex Stability: One of the clearest indicators of renewed national confidence is the exponential rise in remittance inflows. In February 2025 alone, Bangladesh received $2.528 billion in remittances-its fourth-highest monthly figure ever. Over the first eight months of the current fiscal year (July-February FY25), total remittances reached $18.49 billion, marking a staggering 23.8% year-on-year growth.This surge has had a tangible impact on foreign exchange reserves, which surpassed $20.90 billion by the end of February, a significant rebound from previous lows. When calculated using the IMF's BPM6 standard, gross reserves stood at $26.13 billion-a number that debunks the gloom and doom projected by critics.
Export Resilience: RMG Sector Surges Ahead: The Ready-Made Garment (RMG) sector, often viewed as Bangladesh's economic lifeline, has also shown remarkable resilience. Exports in this sector reached $30.25 billion, showing a 10.84% year-on-year growth. The European Union alone accounted for nearly 50% of the market, importing goods worth $15.07 billion, while the United States registered 17.23% growth, amounting to $5.74 billion in shipments.Notably, exports to non-traditional markets also increased by 6.66%, indicating diversification and global competitiveness-a strong rebuttal to claims that Bangladesh is losing its economic edge.
Macroeconomic Fundamentals: Rebalancing in Progress: Despite headwinds, macroeconomic indicators suggest a country in recalibration-not regression. According to the World Bank, GDP growth is expected to be 5.7% in 2025. The Asian Development Bank projects a slightly more conservative 3.9%, with expectations of acceleration in FY2026. Inflation, while still elevated, is trending downward-from 9.94% in January to 9.32% in February.The monetary sector is showing cautious optimism. Broad money growth stood at 8.05% in January, while public and private sector credit growth cooled down, indicating tightened fiscal discipline. Deposits in banks rose by 8.28%, reflecting renewed public confidence.
Importantly, reserve money grew by 9.02%, contrasting with a 1.54% fall the previous year. This reflects eased pressure on net foreign assets, a critical marker of external economic health.
Fiscal Balancing Act: Taxation and Borrowing Trends: On the fiscal front, the National Board of Revenue (NBR) saw a 0.67% year-on-year increase in tax revenue in December 2024, though overall growth during July-December FY25 fell slightly short. Government borrowing stood at BDT 35,306.64 crore by January 2025, with public debt-to-GDP holding steady at 15.84%.While these numbers suggest room for improvement, they also signal a country managing its resources and liabilities prudently-a far cry from the insolvency narrative pushed by detractors.
Real Sector Recovery and Industrial Growth: Bangladesh's industrial backbone is steadily strengthening. Large-scale industrial production grew by 3.90% year-on-year during the July-December FY25 period, up from 2.27% the previous year. The point-to-point wage rate also remained stable at around 8.12%, with the service sector leading the way.Though agricultural and rural credit disbursements dipped, CMSME (Cottage, Micro, Small, and Medium Enterprise) loans and industrial term loans showed mixed trends-another sign of the complexity in post-crisis recovery.
External Sector: Trade, Taka, and Current Accounts: The external sector's rebound further undercuts the misinformation. Merchandise exports grew by 11.58%, reversing the 7.76% decline from the previous year. Imports, too, saw 4.26% growth, showing revived domestic demand and production capacity.Foreign aid receipts declined, yet remittances filled the gap. As a result, the current account deficit was reduced to just $0.55 billion, a significant improvement from the $4.28 billion deficit in FY24. The overall balance of payments also recorded a lower deficit, marking greater financial stability.
Toward LDC Graduation and Global Relevance: With these figures, Bangladesh remains firmly on track for graduation from Least Developed Country (LDC) status by 2026. This transition, while challenging, is also a gateway to global competitiveness. It will unlock new trade possibilities, foreign investments, and reputational capital-none of which are reflected in the fear-mongering narratives floating in certain circles.Why the Misinformation Exists-and Why It Won't LastThe misinformation ecosystem thrives on short-term memory and political motives. Yet, it falters in the face of sustained, verifiable progress. The numbers from the Bangladesh Bank, World Bank, ADB, and international financial institutions present a different truth: Bangladesh is healing, growing, and preparing for a more inclusive and resilient future.
The goal of those pushing disinformation is clear-political destabilization, public confusion, and erosion of trust. But as the country's remittance flows rise, exports diversify, inflation comes under control, and institutions hold firm, such misinformation becomes less influential and more irrelevant. In time, these voices will fade into the margins of history.
Conclusion: A Nation in Forward Gear: The post-August 5 Bangladesh hasn't reached to perfect level but it is progressing. It is not crumbling, but reconstructing. Those trying to rewrite the country's story with half-truths and falsehoods will soon find themselves outpaced by the reality of change and growth. The economic data, institutional reforms, and growing international engagement all point to one thing: a new Bangladesh-resilient, robust, and ready.The country still faces hurdles, but it is clear that Bangladesh is no longer stuck in the shadow of its past. Instead, it is writing a new chapter-grounded in facts, driven by reform, and protected from misinformation by the resilience of its people and institutions.
The writer is a security analyst
