According to Yunus’s press team, the interim government has established six commissions within weeks of taking office to tackle issues such as vote rigging, judicial and police reform, anti-corruption measures, and constitutional amendments.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has called for robust support from the United States to help Bangladesh rebuild its economy, implement crucial reforms, and recover assets embezzled by the previous administration. Yunus emphasized the urgency of the moment, describing it as a pivotal point in the nation’s history.
Meeting with a high-level US delegation, Yunus outlined the interim government’s agenda for rapid economic rejuvenation. His administration has swiftly moved to “reset, reform, and restart” the economy, addressing systemic issues within the financial sector, judiciary, and police.
The US delegation, which included Assistant Secretary for International Finance Brent Neiman, Assistant Secretary of State for South and Central Asian Affairs Donald Lu, and Assistant US Trade Representative Brendan Lynch, expressed their commitment to supporting Bangladesh’s efforts for inclusive economic growth and institutional development.
“As Bangladesh strives towards a more equitable future, the US is prepared to back these endeavors,” said the US representatives after the meeting.
Yunus highlighted the transformative student-led revolution that has ushered in new hope for the country. According to Yunus’s press team, the interim government has established six commissions within weeks of taking office to tackle issues such as vote rigging, judicial and police reform, anti-corruption measures, and constitutional amendments.
Stolen assets
The Chief Adviser also discussed the challenge of recovering stolen assets linked to the previous regime, describing the situation as being mired in widespread corruption. “We are navigating through an ocean of corruption,” Yunus remarked.
Neiman praised Yunus’s leadership and affirmed that Washington D.C. would support his reform agenda with technical and financial assistance. The US officials expressed their readiness to provide support for the interim government’s reform initiatives.
The discussions during the hour-long meeting covered a range of topics including financial and economic reforms, investment strategies, labor issues, and the Rohingya crisis. The Chief Adviser’s upcoming visit to New York for the United Nations General Assembly was also on the agenda.
Bangladesh Foreign Secretary Md Jashim Uddin underscored the importance of the discussions, describing them as a foundational step towards deeper engagement with the US. He emphasized the need for expertise in tackling money laundering and other financial sector challenges, noting that the discussions have laid the groundwork for future collaboration.
“The conversation is just beginning and will evolve over time,” Uddin said, adding that the US has reiterated its willingness to work closely with Bangladesh on various fronts.
The US delegation also met with Finance Adviser Dr. Salehuddin Ahmed, where they voiced support for Bangladesh’s efforts to revitalize its economy and promote growth. The US Embassy in Dhaka stated that their engagement with Bangladeshi economic policymakers focused on driving economic growth, job creation, and sustainability through international financial institutions.
ADB Delegation
This visit marks the first official US delegation since the formation of the interim government led by Yunus on August 8. Foreign Secretary Uddin noted that the presence of the delegation underscores the significance of the US-Bangladesh relationship.
The discussions also touched on labor reforms, trade facilitation, and the Generalized System of Preferences (GSP) facility, with a focus on how the US can support Bangladesh’s economic and financial stability.
In addition to the US delegation, a senior team from the Asian Development Bank (ADB), led by South Asia Director General Takeo Konishi, met with Yunus at the State Guest House Jamuna. Konishi expressed ADB’s longstanding commitment to Bangladesh and willingness to support the interim government’s structural reforms.
Konishi highlighted the potential for policy-based lending as Bangladesh works to stabilize its economy. Yunus described the current situation as “ground zero,” stressing the need for urgent and comprehensive rebuilding efforts.
The ADB delegation discussed various topics including financial sector reforms, digital tax data management, transparency, energy, private sector engagement, and investment. Lutfey Siddiqi, the Chief Adviser’s special envoy, noted positive signs of improvement in the foreign exchange market and increased confidence in the economy.
Other attendees included Lamiya Morshed, senior secretary and head of SDG affairs, ADB senior adviser Edimon Ginting, country director designate Hoe Yun Jeong, and deputy country director Jiangbo Ning.
Overall, both the US and ADB visits represent crucial international support for Bangladesh’s ambitious reform agenda and efforts to overcome economic challenges, setting the stage for potential future collaborations and assistance.
