B Mirror Report: Bangladesh is not yet fully prepared to graduate from the Least Developed Country (LDC) status, Finance and Planning Minister Amir Khasru Mahmud Chowdhury said on Sunday, citing mounting economic challenges.

Speaking to reporters after a multi-stakeholder consultation at the NEC conference room in Sher-e-Bangla Nagar, he noted that the country continues to face key risks, including rising external and domestic debt, costly borrowing, and weaknesses in overall financial management.

The meeting reviewed Bangladesh’s readiness for LDC graduation based on an independent assessment.

The minister cautioned that the ongoing energy crisis and global supply chain disruptions could have long-term impacts on the economy, affecting not only energy but also food and essential commodities, and contributing to inflationary pressure. While Bangladesh has so far tried to absorb global fuel price shocks without major domestic adjustments, such a strategy may not be sustainable in the long run, he added.

He said the government is trying to avoid placing sudden burdens on citizens, but persistent pressure on public finances could eventually be passed on to consumers. “Decisions must be taken carefully to maintain a balance between public welfare and macroeconomic stability,” he said.

Describing the current situation as “day-to-day crisis management,” he said most economic indicators remain under strain. The government is working to stabilise the economy, but pressures continue due to energy subsidies, high global prices, and reliance on imports.

Khasru stressed the need to strengthen economic capacity through reforms and improved efficiency to put the economy on a stronger footing.

He added that there is still an option to defer the graduation timeline, during which the government plans to reinforce key macroeconomic fundamentals. If necessary reforms are implemented within the timeframe, LDC graduation could become achievable, he said.

Others present at the meeting included Foreign Minister Dr Khalilur Rahman, Commerce Minister Khandaker Abdul Muktadir, the prime minister’s economic affairs adviser Dr Mashiur Rahman, UN Under-Secretary-General Rabab Fatima, and State Minister for Planning Zonayed Saki.