Nobel Laureate Yunus
DHAKA: Nobel Peace laureate Muhammad Yunus has officially taken charge of Bangladesh’s caretaker government, following a period of severe unrest that led to the resignation and flight of former Prime Minister Sheikh Hasina.
The transition marks a significant shift in the country’s political landscape as Yunus, renowned as the “banker to the poor,” steps into a role intended to restore stability and guide the nation through a turbulent period.
Yunus, celebrated for pioneering the global microcredit movement through his Grameen Bank, which earned him the Nobel Peace Prize in 2006, now faces the daunting task of managing the country amidst its worst violence in decades.
His appointment comes in the wake of violent protests and chaos that erupted after Hasina’s departure.
The protests, fueled by various grievances including economic hardships and political repression, led to extensive damage and loss of life, with targeted violence against Hindu communities and widespread vandalism.
The violence peaked in July, resulting in numerous casualties and a significant impact on Bangladesh’s minority Hindu population.
The protests, initially sparked by dissatisfaction with government job quotas, expanded into a broader movement against Hasina’s administration.
Following the resignation of Hasina and her subsequent flight to India, the power vacuum was filled by Yunus, who was sworn in as Chief Adviser by President Mohammed Shahabuddin.
Yunus, along with 13 other advisers, was formally installed during a ceremony that included a moment of silence to honor those lost in the unrest.
Yunus, who had been a vocal critic of Hasina, expressed deep emotion during his inaugural address, paying tribute to a student killed during the protests.
He highlighted the critical role of unity and collective effort in overcoming the country’s current challenges. His leadership aims to address the root causes of the unrest and prepare for fresh parliamentary elections.
The interim government led by Yunus excludes Hasina’s Awami League party, which had been in power for two decades. The party’s absence from the interim setup has led to ongoing discussions about the future political landscape.
Meanwhile, the Bangladesh Nationalist Party (BNP), the main opposition, has called for new elections within three months, following a boycott of previous elections due to alleged political repression.
In the wake of the crisis, India has expressed its commitment to working with Bangladesh under Yunus’ leadership to restore normalcy and ensure the safety of minority communities.
Indian Prime Minister Narendra Modi extended congratulations to Yunus and emphasized the importance of peace and security in both countries’ relations.
The protests and subsequent violence also had a profound economic impact, exacerbating issues such as high inflation, unemployment, and financial instability.
The Hasina administration’s economic difficulties were compounded by the COVID-19 pandemic, which led to a $4.7 billion loan request from the International Monetary Fund.
As Yunus begins his tenure, his primary focus will be on stabilizing the nation, addressing economic challenges, and preparing for a smooth transition to a new government.
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