Dhaka: Bangladesh’s interim finance and planning adviser, Salehuddin Ahmed, has underscored the urgent need to stabilize the nation’s economy, which has been faltering following a political upheaval. Ahmed, a former governor of the Bangladesh Bank, was appointed to his role by interim leader Muhammad Yunus as part of a 16-member advisory council announced on Friday.
The interim administration took shape after the collapse of the Sheikh Hasina-led Awami League government on August 5. The government’s fall came in the wake of widespread protests against a contentious quota system in job allocations, which had sparked nationwide unrest.
In his first briefing to reporters since assuming office, Ahmed emphasized that restoring economic stability is the interim government’s foremost priority. “Our immediate task is to get the economy back on track and prevent it from reaching a standstill,” Ahmed said. His remarks highlight the interim administration’s focus on mitigating the economic fallout from the political crisis.
According to Ahmed, the first step will be to rebuild public confidence in the banking sector and to ensure the operational stability of the central bank. “Restoring trust in our financial institutions is crucial. We will resume central bank operations promptly to stabilize the economy,” Ahmed added.
The former Bangladesh Bank governor acknowledged the various challenges facing the economy, including issues within the banking sector, inflation, and other economic complexities. “The country’s economy has experienced a slowdown for several reasons. Our goal is to revive it swiftly. Once the economy stops functioning, it is challenging to restart it, and we are committed to avoiding such a scenario,” Ahmed stated.
Addressing the broader economic concerns, Ahmed noted that the interim government plans to tackle problems across multiple fronts. He emphasized that ensuring the smooth functioning of banks and ports, alongside maintaining law and order, is critical. “We are dealing with a critical time for the country. It’s not just about law and order; operational stability in banking and port activities is equally important,” he said.
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The interim government is also focused on implementing reforms to foster an equitable and just society. Ahmed outlined ambitions to increase incomes and control inflation, reflecting the administration’s commitment to long-term economic stability.
On the same day, Bangladesh’s Chief Justice Obaidul Hassan resigned, following a similar move by the governor of Bangladesh Bank, Abdur Rouf Talukder, who cited personal reasons. These resignations are part of a broader wave of departures from various high-profile positions in the wake of the political crisis.
The unrest following the fall of the Hasina government has led to significant violence, with over 230 people reported dead in recent clashes. The total death toll since the onset of anti-quota protests in mid-July has reached 560. This violence underscores the severity of the current crisis and the challenges facing the interim administration.
As the interim government begins its work, the focus will be on both immediate stabilization and long-term reforms to restore economic confidence and address the underlying issues that have led to the current situation. Ahmed’s remarks indicate a proactive approach to managing the economic and political challenges that lie ahead.
