Freedoms slide, prosperity better than neighbours

Although Bangladesh has ranked in 2023 as one of the more prosperous nations among neighbouring countries, its freedoms have seen a gradual decline over the past 22 years, according to a US think tank report.

The report "Freedom and Prosperity in Bangladesh" prepared by Atlantic Council's Freedom and Prosperity Center, categorises Bangladesh as "mostly unprosperous" in the Prosperity Index and "mostly unfree" in the Freedom Index.

The report was presented at a conference jointly organised by the US Agency for International Development and The Asia Foundation in Dhaka yesterday.

The Freedom and Prosperity Indexes are two lists that rank 164 countries around the world according to their levels of freedom and prosperity.

The Prosperity Index considers factors like health, inequality, environment, minority rights, and education, while the Freedom Index measures political, economic, and legal components.

Bangladesh has been ranked 141st among 164 countries on the Freedom Index under the "mostly unfree" category.

In the Freedom Index, the country achieved its highest ranking of 116th place in 2000 outperforming its neighbours scoring four points more than the average for South and Central Asia.

"However, the trajectory has been less favourable since then, with a steady decline in freedom. Presently, Bangladesh finds itself trailing behind…This decline highlights a concerning trend that warrants attention and analysis," says the report.

According to the report, in 2022, Bangladesh was positioned eighth among the 12 South and Central Asian countries included in the study, indicating a middling performance in terms of freedom when compared to its regional counterparts. Notably, countries like Bhutan, India, Nepal, Pakistan, and Sri Lanka all boast greater degrees of freedom than Bangladesh.

For instance, Pakistan, which holds the seventh spot in the region, outpaces Bangladesh by a notable margin of 11.5 points. Within the region, only three countries -- Afghanistan, Turkmenistan, and Uzbekistan -- scored lower than Bangladesh in this regard.

Meanwhile, Bangladesh's ranking of 99 out of 164 on the Prosperity Index categorises the country as "mostly unprosperous".

Thanks to a broad definition of prosperity, Bangladesh outperforms some of its neighbours, including India and Pakistan, on the overall prosperity score although the country remains behind India in terms of GDP per capita when adjusted for purchasing power parity.

"Although there have been notable advancements in the areas like health and education, progress has been more modest in addressing issues of inequality and environmental sustainability, and has even worsened in terms of minority rights," says the report.

Data shows that countries with greater freedom tend to enjoy higher levels of prosperity, while those with less freedom tend to have lower levels of prosperity. Countries that promote political and economic freedoms, along with strong legal systems, create an environment that is more welcoming to foreign investors, said Joseph Lemoine, director of the Atlantic Council's Freedom and Prosperity Center, at the conference in the capital.

"Every country grapples with issues like corruption and securing economic and political rights. The key lies not in avoiding problems, but in actively acknowledging and tackling them," said US Ambassador to Bangladesh Peter Haas at yesterday's event.