FT: US plans economic talks with Dr Yunus

The United States is set to initiate economic talks this week with Bangladesh's interim government, led by Dr Muhammad Yunus, in a bid to support the nation’s economic recovery, reports the Financial Times.

Scheduled for September 14-15 in Dhaka, these will mark the first high-level economic discussions between the two nations since student protests toppled long-serving prime minister Sheikh Hasina, who fled to India on August 5.

Yunus, a Nobel laureate, microfinance pioneer and founder of Grameen Bank, assumed leadership of the interim government as chief adviser last month. He will likely join other senior Bangladeshi officials in the discussions, the Financial Times reported on Tuesday.

The US delegation, led by the Treasury Department, will include representatives from the State Department, USAID and the US Trade Representative's office.

Brent Neiman, assistant treasury secretary for international finance, told the Financial Times that the US was "optimistic" that Bangladesh would be able to address its economic challenges by implementing reforms. 

He said Washington planned to “underscore US support for Bangladesh’s continued engagement with the IMF and other international financial institutions” as Bangladesh “seeks to strengthen economic growth by deepening financial sector reforms, improving fiscal sustainability and reducing corruption.”

Bangladesh sought a $4.5 billion IMF bailout in 2022 after global market disruptions caused by the Covid-19 pandemic and then the war in Ukraine increased import costs.

The talks are expected to cover fiscal and monetary policies, as well as the state of Bangladesh’s financial sector. US officials will also engage with private sector representatives.