Some literally fled with bags of money

Chief Adviser Professor Muhammad Yunus has accused individuals linked to the previous “fallen fascist regime” of plundering the financial sector, alleging that some literally fled with bags of cash from banks.

He made the remarks during a virtual conversation on Tuesday (Sept 16) with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, who joined the discussion from Washington, D.C.

The two leaders reviewed Bangladesh’s ongoing economic reforms, regional developments, and the challenges ahead of the general elections scheduled for February.

Georgieva praised Yunus’ leadership, crediting him for stabilising Bangladesh’s economy since assuming office. “Your achievements have impressed me,” she said. “You took charge at a moment when the risks of collapse were extremely high. You are the right person at the right time.”

She commended Dhaka’s decision to adopt a market-based exchange rate, describing it as a bold measure that helped restore currency market stability and rebuild foreign reserves.

Yunus expressed gratitude for the IMF’s steadfast support during a critical period, recalling that his first meeting with Georgieva at the UN General Assembly in New York last year played a key role in charting Bangladesh’s recovery path.

The chief adviser reaffirmed the interim government’s commitment to holding timely, credible elections, adding that they would take place before the holy month of Ramadan in February. He also indicated that he would step down and return to his previous work following the polls.

Georgieva underscored the need for deep banking-sector reforms and stronger domestic revenue mobilisation, calling this “a pivotal moment in Bangladesh’s history.”

Yunus said his government had already launched a series of measures to overhaul the banking sector and boost revenue collection. “We inherited a shattered, completely broken economy,” he said. “Some people literally ran away with bags full of money from the banks.”

The discussion also touched on regional issues, including Nepal’s ongoing youth movement and Bangladesh’s aspiration to join ASEAN. Yunus briefed the IMF chief on Dhaka’s major infrastructure projects, such as new port and terminal developments aimed at strengthening regional connectivity.

Finance Adviser Dr. Salehuddin Ahmed and Finance Secretary Khairuzzaman Mozumder were present during the call.