A recent government report has revealed that during former Prime Minister Sheikh Hasina’s 15-year tenure, approximately $16 billion was illicitly siphoned out of Bangladesh annually. This finding comes from a white paper on the state of Bangladesh’s economy, submitted by a committee led by economist Debapriya Bhattacharya to interim leader Muhammad Yunus.
Sheikh Hasina was ousted in August 2024 following a mass uprising led by student protesters, which culminated in her fleeing to India. The interim government, headed by Nobel laureate Muhammad Yunus, has been tasked with addressing the nation’s economic challenges and systemic corruption.
The white paper highlights significant financial misconduct, including inflated project costs and widespread corruption. Interim leader Yunus expressed deep concern over these revelations, stating, “Our blood curdles to know how they plundered the economy. The sad part is they looted the economy openly. And most of us could not summon the courage to confront it.”
In response to these findings, the interim government has initiated efforts to recover the misappropriated funds and implement reforms aimed at preventing future corruption. This includes seeking international assistance to investigate and repatriate assets linked to the previous regime’s associates.
The report underscores the extensive economic challenges facing Bangladesh in the wake of Sheikh Hasina’s administration and highlights the urgent need for comprehensive reforms to restore financial integrity and public trust.