The Bangladesh Bank boss stays silent in standoff with the press at budget briefing
Published : 07 Jun 2024, 11:55 PM
In the grand hall of the Osmani Memorial Auditorium, a tableau of tension and unusual echoes of silence unfolded—an unfamiliar scene for what was a humming post-budget press conference.
Finance Minister Abul Hassan Mahmood Ali, fresh from presenting the budget for the 2024-25 fiscal year, faced not just the press in keeping with tradition but a palpable air of dissent on Friday.
The silence stemmed not from a lack of questions but from a deliberate boycott.
The standoff had its roots deep in a directive issued by Governor Abdur Rouf Talukder, who had restricted access of journalists to the Bangladesh Bank—a move that sparked outrage and led to a media blackout of his statements and of press conferences held by the central bank.
Alongside a bevy of ministers and state ministers and advisors, Governor Talukder and NBR Chairman Abu Hena Md Rahmatul Muneem were also in attendance.
Throughout the event, Finance Minister Ali and State Minister for Finance Waseqa Ayesha Khan fielded questions on the budget, non-performing loans, the declining value of the currency exchange rate, bank loans, failures in anti-money laundering efforts, import controls, and issues related to reserves.
As Ali delved into the details of a Tk 7.97 trillion budget designed to propel Bangladesh towards a "smart" future with sustainable development goals, the conspicuous silence of Governor Talukder was both glaring and at times deafening.
But the irony was not lost on those present in a press conference where the press itself decided to mute one of the key speakers.
As the finance minister moved to the Q&A session after his written speech, Mohammad Refayet Ullah Mirdha, president of the Economic Reporters' Forum, took a firm stand at the outset.
"The governor has banned journalists' entry into Bangladesh Bank. We have decided not to listen to him. I draw your attention to ensure he does not speak. If the governor of Bangladesh Bank makes any statement, we will boycott it," Mirdha asserted, drawing a line that echoed through the rest of the event.
At that moment, when the finance minister looked towards him, the governor indicated with a gesture that he would not speak.
And so he sat there, frozen out in icy silence for nearly two full hours.
His silence was punctuated by contemplative glances and occasional, thoughtful stares into the distance. He could be seen listening to the statements with a contemplative look, sometimes resting his hand on his cheek, and other times looking upwards.
The journalists' questions ricocheted around him, unanswered, as they discussed past fiscal strategies and upcoming financial plans with other officials.
Over the past few years, ministers and state ministers have been seated alongside secretaries in budget-related press conferences. Previously, they were seated in the second row or a bit to the right or left on separate tables. The ministers were assisted with clarifications, explanations, and information by them.
And during those press conferences, questions about inflation control through monetary policy, bank loan provisions by the government, increasing reserves, reducing non-performing loans, and curbing money laundering were addressed by the governor. However, Talukder, a former finance secretary, did not have this opportunity this time.
In this year's briefing, prompted by the finance minister, various questions about the budget were answered by the Prime Minister's Advisor on Finance Masihur Rahman, Planning Minister Abdus Salam, Local Government, Rural Development & Co-operatives Minister Tajul Islam, Industries Minister Nurul Majid Mahmud Humayun, Housing and Public Works Minister RAM Obaidul Muktadir Chowdhury, Agriculture Minister Abdus Shahid, Education Minister Mohibul Hassan Chowdhoury Nowfel, State Minister for Commerce Ahasanul Islam Titu, Cabinet Secretary Mahbub Hossain, Finance Secretary Khairuzzaman Mozumder, and NBR Chairman Abu Hena Rahmatul Muneem.