US eager to support reforms to rebuild Bangladesh

The United States has expressed its eagerness to support Bangladesh's reform agenda as the interim government seeks Washington's assistance in rebuilding the nation.

Chief Adviser Dr Muhammad Yunus sought the support to rebuild the country, implement vital reforms, and recover stolen assets on Sunday during a meeting with a high-powered US delegation, according to a statement from the press wing of the chief adviser.

The US delegation, led by Brent Nieman, the assistant secretary of the US Treasury Department, praised Prof Yunus's leadership and said Washington would be happy to support his reform agenda.

"Our delegation met with the Chief Adviser Professor Muhammad Yunus, affirming our dedication to fostering inclusive economic growth, institution building, and development to benefit the people of Bangladesh," said the US Embassy Dhaka in a Facebook post after the event.

This is the first US delegation in Bangladesh following the formation of the interim government led by Muhammad Yunus on 8 August.

Donald Lu, US assistant secretary of state; Brendan Lynch, assistant US trade representative; Anjali Kaur, deputy assistant administrator of the Bureau for Asia, USAID; and Jerrod Mason, a director of the US Treasury Department, represented the US in the meeting.

The 2006 Nobel Peace laureate described the challenges facing the interim government, saying his administration has moved quickly to "reset, reform, and restart" the economy, initiate reforms in financial sectors, and fix institutions such as the judiciary and police.

As Bangladesh looks to chart a more equitable and inclusive future, the US stands ready to support those efforts, the embassy said.

"It is a very important time for us and a significant moment in our history," the chief adviser said, as he spoke about the student-led revolution, which has ushered in a new era of hope in Bangladesh.

During the meeting held at the state guest house Jamuna, which serves as the chief adviser's official residence in Dhaka, Yunus described an outline of the reform initiatives undertaken by the interim government.

He said six commissions have been set up barely weeks after his government took over in an effort to prevent vote rigging, reform the judiciary, police, civil administration, the country's anti-graft agency, and amend the constitution.

He said his government was committed to getting back the stolen assets syphoned off by corrupt individuals linked with the previous autocratic regime.

"We were in an ocean of corruption," the chief adviser said, while describing the challenges the government faces in tackling graft.

The US officials said they were eager to offer technical and financial assistance for reforms being carried out by the interim government.

During the hour-long talks, financial and economic reforms, investment, labour issues, the Rohingya crisis, and the chief adviser's upcoming visit to New York for the UN General Assembly were also discussed.

The visiting US delegation also met Foreign Affairs Adviser Md Touhid Hossain and Finance Adviser Salehuddin Ahmed yesterday. Foreign Secretary Jashim Uddin hosted a working lunch at state guest house Padma.

Additionally, the US delegation, led by Brent Neiman, held a meeting with Bangladesh Bank Governor Ahsan H Mansur at the central bank headquarters in Dhaka. During the meeting, the US officials were briefed on the country's macroeconomic situation.

Bangladesh Bank spokesperson Husne Ara Shikha told TBS that the US Treasury team did not specify any loan amount to the central bank.

Bangladesh may use US expertise to bring back laundered money

After the meeting with the US delegation, the foreign secretary said they broadly discussed financial sector reforms, with a primary focus on money laundering, as Bangladesh could benefit from US expertise in recovering stolen assets.

"The discussion has just started. It might take a bit of time to finalise," he said, adding that the US side reiterated its willingness to work closely with the interim government.

"We believe this is the foundation for meaningful engagement with the US. We will take this discussion forward at various levels in the future. It's a good starting point to move ahead," he said.

The foreign secretary mentioned that the US officials expressed interest in understanding the government's reform plans. Economic reform, particularly financial and revenue sector reform, is a priority for the government. They also discussed potential areas of cooperation with the US, such as increasing bilateral trade and investment, labour conditions, human rights protection, and the Rohingya crisis. Various issues, including humanitarian assistance, were covered in the talks.

The US side assured their support in areas where Bangladesh identified key reforms in the financial sector.

"The conversation will continue," Jashim said, adding that Bangladesh informed the US delegation of the progress made on labour rights, which the US considers significant.

When asked whether any issues related to elections, politics, or Bangladesh-India relations were discussed, the foreign secretary clarified that there are separate platforms for discussing matters between Bangladesh and India, so those topics were not addressed here.

"There was no discussion in today's meeting about the ongoing unrest in the garment sector. Additionally, no defence cooperation issues were discussed between the two countries," he said.