Bangladesh's high growth under Hasina was 'fake', Yunus tells Reuters | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
July 24, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JULY 24, 2025
Bangladesh's high growth under Hasina was 'fake', Yunus tells Reuters

Bangladesh

Reuters
24 January, 2025, 08:35 am
Last modified: 26 January, 2025, 12:34 pm

Related News

  • Trial of 6 corruption cases against Hasina, others over plot allocation moved to 2 separate courts
  • Court orders transfer of cases against Hasina, family over Rajuk plot corruption
  • ICT orders completion of investigations against Anisul, Salman, Palak, 42 others within 3 months
  • International journalists expect a landmark election in Bangladesh under Prof Yunus
  • Curfews, block raids, and internet blackouts: Hasina’s last ditch efforts to cling to power

Bangladesh's high growth under Hasina was 'fake', Yunus tells Reuters

"She was in Davos telling everybody how to run a country. Nobody questioned that," Yunus told Reuters in an interview on the sidelines of the World Economic Forum's annual meeting

Reuters
24 January, 2025, 08:35 am
Last modified: 26 January, 2025, 12:34 pm
Muhammad Yunus, chief adviser of the Government of Bangladesh, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, 23 January 2025. Photo: Reuters
Muhammad Yunus, chief adviser of the Government of Bangladesh, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, 23 January 2025. Photo: Reuters

The head of Bangladesh's interim government, Nobel laureate Muhammad Yunus, said on Thursday that his country's high growth under ousted Prime Minister Sheikh Hasina was "fake" and faulted the world for not questioning what he said was her corruption.

Yunus, 84, an economist and the 2006 Nobel Peace Prize winner, took charge of the South Asian country's interim government in August after Hasina was forced to flee to neighbouring India following weeks of violent protests.

Hasina has been credited with turning around the economy and the country's massive garments industry during her 15 years in power, although critics have accused her of human rights violations and suppressing free speech and dissent.

Hasina, who had ruled Bangladesh since 2009, is being investigated there on suspicion of crimes against humanity, genocide, murder, corruption and money laundering and Dhaka has asked New Delhi to extradite her.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Hasina and her party deny wrongdoing, while New Delhi has not responded to the extradition request.

"She was in Davos telling everybody how to run a country. Nobody questioned that," Yunus told Reuters in an interview on the sidelines of the World Economic Forum's annual meeting in the Swiss Alpine resort. 

"That's not a good world system at all."

"The whole world is responsible for making that happen. So that's a good lesson for the world," he said. 

"She said, our growth rate surpasses everybody else. Fake growth rate, completely."

Yunus did not elaborate on why he thought that growth was fake but went on to stress the importance of broad-based and inclusive growth, and the need to reduce wealth inequality.

Bangladesh urges global investors to grab opportunities it offers

Annual growth in the Muslim-majority country of 170 million people accelerated to nearly 8% in the financial year 2017/18, compared with about 5% when Hasina took over in 2009, before the impact of COVID-19 and the war in Ukraine pulled it down.

In 2023, the World Bank described Bangladesh as one of the world's fastest-growing economies.

"Since its independence in 1971, Bangladesh has transformed from one of the poorest countries to achieving lower-middle income status in 2015," it said.

HURT BY STRAINED INDIA TIES

The student-led movement in Bangladesh grew out of protests against quotas in government jobs that spiralled in July, provoking a violent crackdown that drew global criticism, although Hasina's government denied using excessive force.

The student protesters recommended Yunus as the chief adviser in the interim government tasked with holding fresh elections.

Yunus, who has promised to hold elections by the end of 2025 or early 2026, said he was not interested in running.

Known as the "banker to the poor", Yunus and the Grameen Bank he founded won the Nobel for helping lift millions from poverty with tiny loans of less than $100 offered to the rural poor, too poor to gain attention from traditional banks.

"For me, personally, I'm not very driven by growth rates," Yunus said. "I'm driven by the quality of life of the people at the very bottom level. So I would rather bring an economy which avoids the whole idea of wealth concentration."

Ties between Bangladesh and India, who have strong trade and cultural links, have become fraught since Hasina was ousted and she took refuge in New Delhi.

Yunus has demanded that India send Hasina back to Bangladesh so she can face trial for what it says are crimes against protesters and her opponents, and crimes she is accused of committing during her tenure.

Calling India's rival China a long-term friend of Bangladesh at this difficult time, Yunus said the strained relationship with New Delhi "hurts me a lot personally".

"Bangladesh-India relationship should be the strongest possible. You know, you cannot draw the map of India without drawing the map of Bangladesh," he said, referring to how Bangladesh's land border runs almost entirely alongside India's.

Top News

Chief Adviser Prof Muhammad Yunus / World Economic Forum (WEF) / Economic Growth / Sheikh Hasina / fake

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Infographics: TBS
    Stay orders won’t shield defaulters: BB governor 
  • Infographics: TBS
    How state-owned Gazi Wires sinks into losses due to reliance on govt procurement
  • BB asks female staff to wear 'modest' attire, discourages short-sleeved or length dresses, leggings
    BB asks female staff to wear 'modest' attire, discourages short-sleeved or length dresses, leggings

MOST VIEWED

  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
    Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
  • Fire at Cosmo School in Mirpur on 23 July 2025. Photo: TBS
    Fire breaks out at Cosmo School in Mirpur following generator explosion
  • Representational image. File Photo: Rajib Dhar/TBS
    Debate arises as edu adviser says postponed HSC exams of 22 and 24 July will be held on same day
  • The Government Seal of Bangladesh
    Govt mulls allowing trade unions with 20 workers, industry leaders warn of disorder
  • Photo: CA Press Wing
    Stronger stance needed on maintaining law and order: Political parties to CA

Related News

  • Trial of 6 corruption cases against Hasina, others over plot allocation moved to 2 separate courts
  • Court orders transfer of cases against Hasina, family over Rajuk plot corruption
  • ICT orders completion of investigations against Anisul, Salman, Palak, 42 others within 3 months
  • International journalists expect a landmark election in Bangladesh under Prof Yunus
  • Curfews, block raids, and internet blackouts: Hasina’s last ditch efforts to cling to power

Features

Photo: Collected

24 July: More than 1400 arrested, 3 missing coordinators found

7h | Panorama
Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

1d | Panorama
Photo: Mehedi Hasan/TBS

Mourning turns into outrage as Milestone students seek truth and justice

1d | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

2d | Panorama

More Videos from TBS

ISPR reports 31 dead, official tally 29

ISPR reports 31 dead, official tally 29

8h | TBS Today
13 political parties meet with chief advisor; urge to announce election date

13 political parties meet with chief advisor; urge to announce election date

8h | TBS Today
Bangladesh and Pakistan unite to fight drugs

Bangladesh and Pakistan unite to fight drugs

9h | TBS Today
Case Study of Milestone Tragedy

Case Study of Milestone Tragedy

10h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net