Dhaka- Nobel winner Muhammad Yunus said on Tuesday he was ready to head an interim government in Bangladesh after mass demonstrations forced longtime ruler Sheikh Hasina to flee the country.
“I am honoured by the trust of the protesters who wish for me to lead the interim government,” he said in a written statement to AFP.
“If action is needed in Bangladesh, for my country and for the courage of my people, then I will take it,” he said, also calling for “free elections.”
Bangladesh earlier dissolved national parliament, paving the way for the formation of a military-backed interim government and fresh elections.
Bangladesh President Mohammed Shahabuddin took the step to dissolve the current parliament and begin a process to form an interim government, according to his press secretary Joynal Abedin.
Shahabuddin directed the authorities to lift the curfew earlier in the day after more than two weeks of clashes between Hasina’s supporters, security forces and student-led protesters.
Bangladesh’s powerful army chief Waker-Uz-Zaman is looking to set up an interim government in consultation with the president.
What happens next after Hasina, who turned Bangladesh into an economic success and ruled with an iron fist, remains unclear. It is possible the interim government excludes her Awami League party, which won almost 80% of the parliamentary seats in a boycotted vote in January. While Shahabuddin has vowed to hold elections “as soon as possible,” it’s unclear if Hasina’s allies will be able to participate or return to power.
Thousands of jailed protesters were freed, as well as Hasina’s rival and opposition leader Khaleda Zia — a former prime minister herself.
Investors are betting on a smooth transition with a key Bangladesh stock index surging by the most since March 2020. Still, the interim government will have to focus on the economy that has struggled to gain its footing since the pandemic and has come under pressure from the curfews and recent internet blackouts.
Hasina in New Delhi for few days
The new government may also have to negotiate with the International Monetary Fund and other creditors for more cash to bolster dwindling reserves. The multilateral lender, which approved a $4.7 billion loan program last year, said it would continue to “support efforts to ensure economic stability and deliver inclusive growth,” according to a Reuters report.
“These events in Bangladesh could not have come at a worse time given that it was regaining some amount of macro-stability after having taken the tough policy measures linked to the IMF program,” said Ruchir Desai, fund manager at Asia Frontier Capital, which has been adding to its position in Bangladesh stocks in the past two months.
Hasina, who fled the country to India by helicopter shortly before protesters ransacked the presidential palace, hasn’t spoken publicly. Indian television channel News18 reported she is stationed at Hindon airbase on the outskirts of New Delhi for the next few days.
Minister of External Affairs Subrahmanyam Jaishankar said Hasina had requested approval “to come for the moment to India,” confirming a Bloomberg news report.
She was initially heading for the UK though it is increasingly unclear where she will go from India.
“The situation in Bangladesh is still evolving,” Jaishankar told Indian parliament on Tuesday. “In the last 24 hours, we have also been in regular touch with the authorities in Dhaka.”
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