Nobel Laureate Muhammad Yunus Named Chief Adviser of Bangladesh Interim Government: Updates
Date: August 7, 2024: Nobel Peace Prize laureate Muhammad Yunus has been appointed chief adviser of Bangladesh’s interim government. The decision was made by President Mohammed Shahabuddin following Prime Minister Sheikh Hasina’s resignation and departure from the country amid escalating violence from a student-led uprising.
Key Events Leading to the Appointment
- Prime Minister Resignation: Sheikh Hasina resigned and fled Bangladesh after a violent crackdown on student protests, which had resulted in approximately 300 deaths and thousands of injuries since July.
- Appointment by the President: President Mohammed Shahabuddin appointed Yunus after consulting with student leaders and military chiefs. Local media reported the president’s office confirmed these discussions and Yunus’s new role.
Background on the Unrest
- Origins of the Protests: The unrest began with demonstrations against public sector job quotas for families of veterans from the 1971 independence war, which were seen as favoritism towards allies of the ruling party.
- Demand for Change: Student protesters demanded the dissolution of parliament and threatened further demonstrations if their demands were not met.
Profile of Muhammad Yunus
- Nobel Peace Prize Laureate: Yunus, 84, is renowned for founding Grameen Bank and pioneering microcredit, providing small business loans to impoverished individuals, predominantly women.
- Legal Battles: Over the past few years, Yunus has faced around 200 charges, including money laundering and graft. He and his supporters claim these charges were politically motivated by Hasina’s government, which she has denied.
- Historical Context: Although Yunus considered entering politics during the 2007 military takeover in Bangladesh, he ultimately decided against forming a new political party.
Current Challenges for Yunus
- Restoring Stability: As one of Bangladesh’s most esteemed intellectuals, Yunus’s appointment brings hope for stability in a nation plagued by coups and political turmoil. His international reputation and connections with Western elites add to his influence.
- Economic Hurdles: While Hasina’s administration lifted millions out of poverty through the garment industry, recent economic stagnation has necessitated bailout funds from the International Monetary Fund (IMF).
- Violence and Tensions: With over 300 lives lost in recent clashes, Yunus faces the daunting task of restoring peace and normalcy.
LIVE Updates on the Situation in Bangladesh
- 07:35 (IST): Muhammad Yunus’s appointment, backed by the military, marks a significant shift for the economist, who has spent much of his recent time battling legal charges.
- 07:34 (IST): The appointment of Yunus is seen as a beacon of hope for a country marred by political upheaval, aiming to stabilize and steer Bangladesh towards recovery.