Mohammed Shahabuddin resigned as president of Bangladesh on Friday, citing worsening health problems that he said left him unable to perform the duties of the office.
Bangladesh president Mohammed Shahabuddin resigned Friday afternoon, ending widespread speculation. He submitted his resignation letter to the speaker of the national parliament at 4:30 p.m., and authorities scheduled an emergency press conference for 5 p.m. in the parliament oath room.
Bangladesh must increase annual foreign direct investment nearly sevenfold to $15 billion by 2030 to sustain growth and finance infrastructure, a leading foreign investors’ group said.
Bangladesh’s trade deficit widened nearly 24% to $23.98 billion during the first 11 months of fiscal 2025-26 as exports declined and imports of capital machinery and industrial materials weakened.
Prime minister Tarique Rahman urged global investors to become long-term partners in Bangladesh’s economic transformation, pledging reforms aimed at building a $1 trillion economy by 2034.
President Mohammed Shahabuddin may resign soon as discussions surrounding his departure intensify, according to media reports citing government and political sources.
Bangladesh’s National Board of Revenue plans to collect an additional 1.25 lakh crore taka, approximately $10.1 billion, as the government negotiates a new $4.5 billion to $5 billion loan with the International Monetary Fund.
Bangladesh has ranked 97th in the Henley Passport Index 2026, sharing the position with North Korea and remaining among the world’s weakest passports.
Bangladesh plans to privatize state-owned electricity distribution companies as energy shortages disrupt industrial production and increase the risk of businesses defaulting on loans, a government minister said.
Bangladesh is battling simultaneous dengue and measles outbreaks that have strained hospitals and intensified calls for mosquito control and emergency vaccination.
