New government to reassess foreign contracts and debt situation, hopes Dr. Debapriya

CPD Honorary Fellow Dr. Debapriya Bhattacharya has said that the interim government should examine all contracts made with foreign countries.

He said that it is necessary to review the country's debt situation and all the purchase contracts of the previous government in detail through documents. 'In particular, it is necessary to ensure whether there has been any violation of rules and regulations in the contracts.'

He mentioned that these contracts are not only related to the United States or ports, but also in other cases that we may not be fully aware of.

Debapriya Bhattacharya made these comments at a media briefing titled 'Starting Point of the New Government: Economic Review' held at the BRAC Center in the capital's Mohakhali on Thursday.

He said that the interim government has left the country's debt and debt situation in a weaker state. The reasons behind this could be a shortfall in revenue collection, failure to reduce current expenditure, or failure to properly coordinate the annual development programme. The reality is that the new BNP government will face a more fragile economic situation.

He also said that foreign agreements need to be reconsidered so that it is clear what kind of responsibilities lie with the new government. If the transition team is able to do this autopsy, the government will be able to do many other things easily.

Dr. Bhattacharya urged the government to be patient in such situation. 'A decision has to be made – whether they will act quickly or go for a long-term plan. Instead of taking any immediate steps within 180 days, the emphasis should be on stabilizing the economy.' He warned that taking any appeasement measures can be dangerous.

CPD Additional Director (Research) Taufiqul Islam Khan presented the keynote speech at the event. He said that the first test of the government will be how realistically they can revise the budget and establish the budget structure for next year on a solid foundation.

He also said that the BNP will move towards implementing the election promises step by step; it will not be possible to implement everything at once, because financial capacity will be a big challenge for this government.

Professor Mostafizur Rahman, Honorary Fellow of CPD, also spoke at the event.