Breaking: Bangladesh PM Resigns, Country in Turmoil
Breaking: Bangladesh PM Resigns, Country in Turmoil
Long-ruling Bangladesh PM Sheikh Hasina flees country amid massive protests. Interim gov't to be formed. Hundreds dead. Army Chief leads transition. $455 billion economy stalls. Forex reserves dwindle
Bangladesh PM Resigns, Flees Country. Interim Gov’t Forming. Army Chief Takes Over, Says Country Going Through ‘Revolutionary Period.’
Reuters
“Bangladesh Prime Minister Sheikh Hasina resigned on Monday and fled the country, as more people were killed in some of the worst violence since the birth of the South Asian nation more than five decades ago,” Reuters reports.
“Army chief General Waker-Uz-Zaman announced Hasina's resignation in a televised address to the nation and said an interim government would be formed.”
“Media reports said Hasina, 76, was flown in a military helicopter with her sister and was headed to India. The CNN News 18 television channel said she had landed in Agartala, the capital of India's northeastern state of Tripura, across the eastern border of Bangladesh.”
“Bangladesh has been engulfed by protests and violence after student protests last month against reservation quotas in government jobs escalated into a campaign for the ouster of Hasina, who won a fourth straight term in January in an election boycotted by the opposition.”
“Army chief Zaman said he had held ‘fruitful’ talks with leaders of all major political parties he had ‘invited’ and would soon meet President Mohammed Shahabuddin to discuss the way ahead. ‘The country is going through a revolutionary period,’ said Zaman, 58, who took over as army chief only on June 23.”
“…Protesters in Dhaka also climbed atop a large statue of independence leader Sheikh Mujibur Rahman, Hasina's father, and began chiselling away at the head with an axe, the visuals showed.”
“…Garment factories in the country, which supply apparel to some of the top brands in the world, have also been closed indefinitely.” Reuters reports.
Bangladesh PM Sheikh Hasina Headed to London
Dhaka Tribune
After resigning as prime minister, Sheikh Hasina left Bangladesh on Monday afternoon, accompanied by her younger sister Sheikh Rehana, later landing at the Hindon air base near Delhi, India.
Air Officer Commanding (AOC) Sanjay Chopra received Sheikh Hasina at the air base, reports India Today.
The Indian Air Force and security agencies closely monitored her aircraft from the moment it entered Indian airspace until it landed at Air Force Station Hindon.
From there, she plans to go to London, UK, reports the Indian news outlet News18.
Sheikh Hasina apparently intended to record a speech before her departure but did not get the opportunity to do so.
The announcement of Sheikh Hasina’s resignation came from Chief of Army Staff Waker-uz-Zaman after protesters stormed her official residence, Ganabhaban.
Images showed flames billowing from vehicles near the prime minister’s home, with police unable to contain throngs of people storming it. Dkaha Tribune reports.
Who is Waker-Uz-Zaman, Bangladesh Army Chief?
NDTV reports
“But who is General Waker-Uz-Zaman, the man who will replace Sheikh Hasina as the new head of the state for Bangladesh?”
“A career infantry officer, he has dedicated nearly four decades to the service, including two tours as a UN peacekeeper. His tenure as Chief of Army Staff began in June, succeeding former General SM Shafiuddin Ahmed. His extensive experience spans commanding an infantry battalion, an independent infantry brigade, and an infantry division. His staff appointments include roles at the Infantry Brigade, School of Infantry and Tactics, and Army Headquarters, among others.”
“Educated at the Bangladesh Military Academy and furthering his studies at the Defence Services Command and Staff College in Mirpur and the Joint Services Command and Staff College in the UK, General Waker-Uz-Zaman holds advanced degrees in Defence Studies from both the National University of Bangladesh and King's College, University of London.” NDTV reports.
Bloomberg Explainer: Why the Unrest and What Does it Mean for Bangladesh’s Future?
“…The South Asian country has been on edge since late June, when student leaders took to the streets demanding an end to a system of government job quotas. While the Supreme Court has rolled back most of the quotas, it failed to quell the unrest, as protesters turned their focus to the more general problem of youth unemployment.”
What’s behind the unrest in Bangladesh?
Students began marching in late June to demand an end to a system of quotas for government jobs. When opposition parties swung behind the demonstrations, it swelled the number of protesters and widened the list of grievances. Hasina’s opponents accuse her of mismanaging the economy and pushing the country down a path toward authoritarianism. Her party won elections in January after opposition parties boycotted the vote, with most of their leaders behind bars. Hasina said the protesters were anarchists and terrorists seeking to destabilize the country. While her government has overseen one of the fastest economic growth rates in the world, lifting millions out of poverty, many Bangladeshis feel left out of the boom. Bangladesh has an official policy of encouraging its citizens to go overseas to find work, and the economy has come to depend heavily on money sent home by its citizens working abroad.
Bloomberg
“Competition is fierce for civil service jobs that are seen as more stable and better paid than work in the private sector. More than 400,000 graduates compete for some 3,000 government jobs each year.”
“Army Chief Waker-Uz-Zaman said he’d held a meeting with political leaders and would also meet with President Mohammed Shahabuddin. The army expects to reach a solution tonight, he said. It wasn’t clear which opposition groups, if any, might be asked to take part in the temporary administration.”
“Curfews and internet blackouts are likely to have dealt a blow to Bangladesh’s $455 billion economy. The country was already in a precarious position, with its foreign reserves dwindling. The country went to the International Monetary Fund in 2022 for help to rebuild those reserves and it is currently in talks with China for a loan of about $5 billion. Many Bangladeshis are suffering from a cost of living crisis, and the government is under pressure from the IMF to raise interest rates to tame inflation that’s held at 9% since March last year.” Bloomberg reports
Asian Development Banks Postpones Fact-Finding Mission Amid Unrest
Financial Express of Bangladesh
“Amid foaming unrest in Bangladesh over students' job quota reform movement, the Asian Development Bank (ADB) has postponed halfway its fact-finding mission on an assured US$800 million worth of budgetary support to the country.”
“Officials concerned feared that the withdrawal of the mission might delay the disbursements of the loan - a much-expected financing during this crunch time when the country is struggling to keep its foreign exchange reserves stay afloat.”
“The Manila-based lender had started its mission, meant for exploring the possibilities and necessity of the support, on July 7 last and was supposed to conclude it on July 17 with a wrap-up meeting with the Economic Relations Division (ERD).”
“…Officials at the Ministry of Finance (MoF) said the loan is expected to help Bangladesh prepare for facing challenges that might emerge after the country's graduation from the least developed country (LDC) status in 2026.”
“…The MoF official said they were expecting that the ADB board meeting would approve the first tranche loan before October this year which has by now has become uncertain.”
“Amid the ongoing forex crisis, the government is desperately searching for external funds to enrich the country's forex reserves.”
“…Meanwhile, the International Monetary Fund (IMF), under a $4.7-billion loan deal, has provided $1.15 billion worth of Balance of Payment support to Bangladesh in June last.” Financial Express reports.
Garment Manufacturers Explore Re-Opening Amid Unrest
The Daily Star of Bangladesh reports that “the executive committee of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) will sit in a meeting today at 7.30pm to take decision on the next course of action regarding factory opening and business environment, as the Awami League-led government fell today with the resignation of prime minister Sheikh Hasina.”
"We will mainly discuss the issue of reopening of the factories. However, we may take more time for the reopening of the factories considering the changed political situation," BGMEA Vice-president Arshad Jamal Dipu told The Daily Star over phone.
Financial Express of Bangladesh has a useful primer below on the history of political upheavals and coups in Bangladesh
1975
The country's first Prime minister Sheikh Mujibur Rahman, Hasina's father, was assassinated along with most of his family members in a military coup that brought in a long period of military rule. Two more coups in the same year ended with General Ziaur Rahman seizing power in November.
1981
Ziaur Rahman was assassinated by rebels who stormed into a government guest house in Chittagong city where he was residing. The violence was believed to be the act of a small group of army officers, but the army itself remained loyal and suppressed the rebellion.
For the full timeline, go here.
Bangladesh Protests Gather Steam - Video
Here’s some striking video from the Daily Star of Bangladesh web site