Head of transitional government makes request on sidelines of World Economic Forum in Davos, Switzerland
Bangladesh's interim leader Muhammad Yunus sought the assistance of European Central Bank (ECB) President Christine Lagarde on Wednesday to recover billions of dollars stolen during Prime Minister Sheikh Hasina's regime.
“Some $17 billion alone was taken out of the country's banking system by oligarchs close to the dictatorship and $16 billion was siphoned off annually during the 15 years of Hasina's rule,” said a statement.
Yunus told this to Lagarde while the two met on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.
Hasina fled to India on Aug. 5 last year following student-led protests that toppled her 15-year rule. The Yunus-led transitional government took office on Aug. 8.
Apart from facing charges of mass murder and enforced disappearances in local courts, Hasina also faces allegations of embezzlement and money laundering with the help of her business allies.
"It was massive highway robbery," Yunus said, adding the oligarchs first took over banks and then took loans, which they never paid back.
Lagarde, who also served as managing director of the International Monetary Fund (IMF) from 2011 to 2019, said she would support the Yunus government's move to recover the money and recommended that Bangladesh also seek help from the IMF to recover and repatriate the funds.
During the talks, they also discussed the July uprising and Bangladesh's reform initiatives. Lagarde also expressed her support for Bangladeshi educational institutions.
