Davos: Chief Adviser Professor Muhammad Yunus has sought the assistance of European Central Bank President Christine Lagarde to recover billions of dollars stolen from Bangladesh during the fallen Sheikh Hasina dictatorship. The two dignitaries met in the Swiss city of Davos on the sidelines of the World Economic Forum annual meeting.
According to Bangladesh Sangbad Sangstha, Prof Yunus informed Christine Lagarde, who is also a former Chief of the IMF, that some US$ 17 billion were taken out from Bangladesh’s banking sector by oligarchs close to the dictatorship. Additionally, US$ 16 billion were siphoned off annually during the 15 years of the ousted Hasina regime. Prof Yunus described the situation as a “massive highway robbery,” explaining that the oligarchs first took over banks and then acquired loans which they never repaid.
Lagarde expressed her support for the Interim Government’s efforts to recover the stolen assets. She recommended that Bangladesh also seek assistance from the IMF to facilitate the recovery and repatriation of the funds. The discussion also covered the July uprising and Bangladesh’s reform initiatives, with Lagarde voicing her support for Bangladeshi educational institutions.
The meeting was also attended by Lamiya Morshed, the SDG coordinator of the Bangladesh government, and Tareq Ariful Islam, Bangladesh’s permanent envoy in Geneva.