The United States is set to launch economic talks this week with Bangladesh’s interim government, including its leader, Muhammad Yunus, the Financial Times reported on Tuesday.
The discussion to be held on Sept. 14 and 15 in the capital city Dhaka, will be the first high-level economic discussions between US and Bangladesh after a student-led protest movement toppled long-serving authoritarian leader Sheikh Hasina, who fled to India.Â
The government led by the Nobel Peace laureate was sworn in last month with the aim of holding elections in the South Asian nation after the ouster of Sheikh Hasina following deadly protests against quotas for government jobs.
“The United States is optimistic that, by implementing needed reforms, Bangladesh can address its economic vulnerabilities and build a foundation for continued growth and increased prosperity,” Brent Neiman, assistant U.S. Treasury secretary for international finance, told the newspaper.
Discussions with the US are expected to cover fiscal and monetary policy, as well as the overall health of the financial system, the paper said. Additionally, US officials will engage with representatives from the private sector.
Officials in Bangladesh’s finance ministry and Yunus’ office said they were not aware of the visit.
Bangladesh’s $450-billion economy has slowed sharply since the Russia-Ukraine war pushed up prices of fuel and food imports, forcing it to turn to the International Monetary Fund last year for a $4.7-billion bailout.
The collapse of Sheikh Hasina’s government followed by weeks of violent protests further disrupted Bangladesh’s economy and its economically vital garment sector. The US has urged Bangladesh to implement industry reforms, including the decriminalisation of trade unions, while Yunus has called for labour reforms to help garment producers secure more orders.
(With Input From Reuters)
