Govt forms high-level committee to assess Iran war impact on economy
Committee to assess war impact, prepare economic crisis plan
The government has formed a high-level cabinet committee to assess the possible impact of the Iran war on Bangladesh's economy and prepare a crisis management plan to maintain economic stability.
A notification was issued in this regard today (10 March).
The Cabinet Division formed the committee, headed by Finance Minister Amir Khasru Mahmud Chowdhury, amid concerns that the Iran war could trigger a global energy crisis and threaten the global economy.
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Members of the committee include the ministers for local government, rural development and cooperatives; home affairs; power, energy and mineral resources; commerce; expatriates' welfare and overseas employment; and food.
Bangladesh previously faced economic pressure from the global impact of the Russia-Ukraine war, which drove up the prices of fuel and essential commodities worldwide. The country's foreign exchange reserves came under strain due to higher import costs.
Inflation in Bangladesh rose to around 12% during that period and still remains above 9%.
Before the impact of that conflict had fully eased, the United States and Israel launched attacks on Iran, triggering a new phase of regional conflict.
According to the notification, the committee will analyse war situations in different parts of the world and assess their potential impact on Bangladesh.
It will also formulate a crisis management plan to help maintain economic stability.
The committee may co-opt additional members if necessary and will hold meetings as required. The Finance Division will provide secretarial support to the committee.
