SAB Vol1, Issue 5
Political and economic issues continued to plague South Asian countries in October. Bangladesh, Pakistan and Sri Lanka are facing a political crisis. The opposition party in Bangladesh has planned massive protests demanding that the Sheikh Hasina-led government make way for a ‘caretaker government’ to hold upcoming elections. Former Prime Minister Imran Khan continues his resurgence in Pakistan and has led big rallies. The Sri Lankan government was criticized for its heavy-handed approach to controlling protesters. The parliament amended the constitution to clip the presidential powers.
Meanwhile, the 20th People’s Congress confirmed President Xi Jinping’s third presidential term. The politburo standing committee is full of Xi loyalists without any heir apparent. Xi has emerged as the most powerful leader since Mao Zedong. He faces several challenges at home and abroad. China’s success or failure on both ends will have Xi’s even more significant imprint.
Similarly, the countries have approached the World Bank (WB) and International Monetary Fund for support. Inflation remains high in Sri Lanka. WB has revised down the growth forecast from India.