Reforms a must for economy to rebound

I write to express my deep concern over the existing economic challenges and the urgent need for transparent reforms in the country. Developments ranging from the interim government's vigorous efforts to recover stolen assets and restore investor confidence to critical issues such as reduced food assistance for vulnerable populations and illicit cross-border barter trade highlight the need for immediate action.

The relocation of UN agencies to properties linked to entities under investigation, along with the aggressive reform efforts led by Nobel laureate Muhammad Yunus, clearly demonstrate that our economic recovery is closely tied to combating corruption and rebuilding public trust. Further complicating matters are the humanitarian consequences of reduced food rations for Rohingya refugees, which not only strain our economy but also disrupt the social fabric of our society.

Moreover, recent disclosures about a global property empire owned by politically exposed persons, coupled with the intricate details of cross-border barter smuggling-where gold is exchanged for essential goods-pose serious threats to financial integrity and market stability. In this challenging environment, the European Investment Bank's decision to increase financing for Bangladesh serves as a beacon of hope. However, this support also underscores the need for our government to implement firm accountability and transparency measures.

For these reasons, I humbly urge policymakers to accelerate reforms by strengthening oversight of public assets and financial institutions and enforcing stringent measures against money laundering. Additionally, enhancing international dialogue is crucial for attracting sustainable investment while safeguarding human rights and market stability. To regain public confidence, reignite economic growth, and ensure that every citizen benefits equitably from development. It is time we acted decisively.

Mohammad Nazif Uddin

School of Business and Economics

North South University