When Sheikh Hasina left the country, Bangladesh’s total public debt stood at 19.23 lakh crore taka. In just eighteen months, Yunus increased that figure to 21.49 lakh crore taka. That means an additional 2.26 lakh crore taka in new loans. What was done with this enormous sum? No mega projects were launched. No bridges or highways were built. No power plants were inaugurated. No industries were established. So where did this 226 thousand crore taka go?
After Yunus’s government came to power, a campaign was launched claiming that during Sheikh Hasina’s tenure, 15 billion dollars were allegedly siphoned abroad every year. If that figure were true, and if no such siphoning occurred under Yunus, then foreign reserves should have surged dramatically. Sheikh Hasina had left behind 20.5 billion dollars in reserves. Over eighteen months, if 15 billion dollars per year had remained in the country instead of being laundered out, reserves should have reached at least around 42 billion dollars. But in reality, reserves now stand at only 29.5 billion dollars.
Where did 13 billion dollars go? Did this massive amount simply vanish into thin air, or was it deliberately moved elsewhere? The same government that accused the previous one of money laundering saw reserves fall by nearly 9 billion dollars during its own tenure. What greater example of capital flight could there be?
The most ironic part is that despite taking on this huge new debt, no visible development has taken place. During Sheikh Hasina’s tenure, loans financed projects like the Padma Bridge, the Dhaka Metro Rail, the Dhaka Elevated Expressway, and a doubling of electricity generation capacity. What happened under Yunus? Only the debt burden increased, and reserves declined. What should this be called—corruption, plunder, or calculated economic sabotage?
In July 2024, after bloodshed in the streets, an elected government was removed. With alleged foreign funding, support from Islamist militants, and backing from the military, an unelected government took power. That government promised the people dreams of development. In reality, it has broken the backbone of the country’s economy.
Bangladesh’s economic structure now stands at such a fragile point that it may take the next ten years to recover from this damage. The next government will inherit an empty treasury, a massive debt burden, and depleted reserves. How many years it will take to recover, and how many generations will have to sacrifice, is impossible to calculate.
Yunus and his associates may be leaving, but they are leaving behind ruins. Every individual involved in this alleged plunder must be held accountable. Every single taka must be traced. Otherwise, this country may never stand tall again.
