Bangladesh has earned the title of "Country of the Year" for 2024 from The Economist, surpassing strong contenders including Syria, Argentina, South Africa, and Poland.
The accolade, announced in the publication’s report on Thursday, recognises the nation that has demonstrated the most significant improvement over the past year.
The British publication clarified that the award does not celebrate wealth, happiness, or virtue but rather focuses on notable progress within the year.
Bangladesh’s selection followed a rigorous debate among The Economist’s correspondents, with Syria emerging as the runner-up.
Bangladesh’s Political Transformation
The report credited Bangladesh’s recognition to its political upheaval in 2024, which led to the resignation of Sheikh Hasina in August.
Student-led protests toppled the leader, who had ruled the country of 175 million for 15 years.
Once celebrated for fostering rapid economic growth, Sheikh Hasina’s tenure was marred by authoritarianism, including election rigging, imprisonment of opposition figures, and violent crackdowns on protests.
Corruption also plagued her government, with vast sums embezzled under her administration.
Despite Bangladesh's history of turbulent transitions, the report highlighted the encouraging signs in the aftermath of Hasina’s ouster.
A Nobel Peace Prize laureate and pioneer of microfinance, Muhammad Yunus, has stepped in to lead a temporary technocratic government.
The report stated, “A temporary technocratic government, led by Muhammad Yunus, a Nobel peace prizewinner, is backed by students, the army, business, and civil society. It has restored order and stabilised the economy.”
Challenges Ahead
The Economist emphasised the hurdles Bangladesh must navigate in the coming years. The country will need to rebuild diplomatic ties with India and lay the foundation for credible elections in 2025.
"In 2025, it will need to repair ties with India and decide when to hold elections—first ensuring that the courts are neutral and the opposition has time to organise.
None of this will be easy. But for toppling a despot and taking strides towards a more liberal government, Bangladesh is our country of the year,” the report concluded.
Recognition for Other Nations
Syria was commended for its transition following the removal of Bashar al-Assad.
Argentina’s economic reforms, South Africa’s rejection of ineffective governance, and Poland’s political renewal also garnered praise.
A Prestigious Honour
Bangladesh now joins an illustrious list of previous winners.
Greece was awarded the title in 2023 for navigating a prolonged financial crisis and electing a moderate government.
Earlier honorees include Colombia, celebrated for ending a decades-long civil war, Ukraine for its resilience against an invasion, and Malawi for advancing democracy.
This year’s accolade serves as a testament to Bangladesh’s strides towards a more equitable and democratic future.
