IMF chief Kristalina Georgieva commends Yunus for Bangladesh’s economic turnaround

Yunus discusses regional dynamics and challenges ahead of February polls with her on a video call

International Monetary Fund (IMF) chief Kristalina Georgieva has praised Muhammad Yunus for his leadership in Bangladesh’s "remarkable economic recovery", following his appointment as chief advisor.

The IMF managing director spoke with Yunus via video call from Washington DC on Tuesday, a media statement from the Chief Advisor's Office said.

They discussed the ongoing economic reforms, regional dynamics, and challenges ahead of the February general election.

“I am impressed by what you have achieved,” Georgieva said, referring to the state of the economy when Yunus assumed leadership in August last year.

“You’ve done so much in such a short time. You took responsibility for your country when the risk of deterioration was very high. You are the right person at the right time,” she added.

Georgieva commended the stabilisation of the foreign exchange market and the recovery of foreign reserves following the government’s decision to implement a market-based exchange rate.

Yunus thanked Georgieva for her support during one of Bangladesh’s most critical times, recalling their initial meeting at the UN General Assembly last year.

The chief advisor reaffirmed the interim government's commitment to holding a timely and credible election before Ramadan in February, saying he would return to his previous work after the polls.

Georgieva emphasised the need for bold reforms, particularly in banking and domestic revenue generation, to ensure Bangladesh’s strong future.

“To be in a strong position, reform is inevitable. This is such a precious moment in the history of Bangladesh,” she said.

Yunus outlined key measures already undertaken, including banking sector restructuring and revenue enhancement initiatives.

“We inherited a devastated and completely broken economy. Some individuals literally stole money in bags from banks and fled the country,” he said.

The leaders also discussed regional developments, including the youth uprising in Nepal and Bangladesh’s aspirations to join ASEAN. Yunus provided updates on Dhaka’s infrastructure projects, such as new ports and terminal developments, aimed at boosting regional integration.

Finance Advisor Saleh Uddin Ahmed and Finance Secretary Khairuzzaman Mozumder were present during the call.