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Bangladesh is placing its hopes on one of its most esteemed intellectuals to restore stability to a nation marred by coups and political turmoil.
Bangladesh is placing its hopes on one of its most esteemed intellectuals to restore stability to a nation marred by coups and political turmoil.
Muhammad Yunus, celebrated for his Nobel Peace Prize-winning efforts to alleviate poverty, was appointed head of a new interim government on Tuesday after Sheikh Hasina’s abrupt removal as prime minister.
Despite his usual distance from politics, Yunus is a prominent figure in Bangladesh with significant influence among Western elites. Restoring stability to Bangladesh will be a formidable challenge for Yunus.
Recent weeks have seen clashes between protesters and security forces result in over 300 deaths, marking one of the worst episodes of violence in the country’s history.
Despite Sheikh Hasina’s success in reducing poverty through garment exports, economic growth has recently stalled, leading the International Monetary Fund to provide bailout funds.
The military-backed appointment of Muhammad Yunus as Bangladesh’s interim leader marks a surprising turn for the economist. Recently, Yunus has been entangled in Dhaka’s courtrooms, facing around 200 charges, including money laundering and graft.
He and his supporters claim that the legal pressures were instigated by Hasina’s government, which saw Yunus as a threat; Hasina has denied these claims. At 84, Yunus is renowned for founding Grameen Bank and pioneering microcredit, which offers small loans to the world’s poorest, predominantly women.
Despite his extensive public presence, he has largely avoided political roles. In 2007, during a period of military takeover, Yunus briefly considered forming a political party but abandoned the idea within weeks.
