Bangladesh's Boom-Bust Cycle -- How the Seeds of Collapse Were Hidden Within the Rise

Bangladesh's 14-year economic rise from 2009 to 2022 carried the seeds of its own collapse, which broke into the open during the 2022-2024 crisis. GDP was growing fast, mega-projects were under construction, RMG exports touched USD 42 billion — but beneath the surface lay deep debt dependence, banking capture and reserve depletion. This article uses the Boom-Bust Cycle framework to explain how the crisis arrived, which signals were missed, and what the path forward looks like.