Global lenders shaping national policies: Anu Muhammad

Chief guest Professor Anu Muhammad and others are present at the seminar.

Economist Professor Anu Muhammad has alleged that Bangladesh’s policies are being dictated by global financial institutions such as the World Bank, International Monetary Fund (IMF), Asian Development Bank (ADB), and Japan International Cooperation Agency (JICA), with support from the country’s bureaucracy and influential businessmen.

Speaking at a seminar on Least Developed Country (LDC) graduation in Dhaka on Wednesday, he claimed that the same individuals who influenced decisions during the Sheikh Hasina government are continuing to do so under the current administration led by Chief Adviser Muhammad Yunus.

Anu Muhammad criticised advisers for prioritising policies favoured by foreign institutions, saying development partners once hailed Sheikh Hasina’s model as a “miracle” and established a separate development path—one they are now reinstating.

On the matter of secret agreements, he stressed that long-term deals must be disclosed to the public as part of free-market principles. He argued that the current government had the opportunity to set a new precedent by revealing past undisclosed agreements, thereby discouraging future administrations from making similar secret deals. “Unfortunately, none of these issues have changed,” he lamented.

Fisheries and Livestock Adviser Farida Akhter, attending the event as chief guest, said the government has yet to decide whether to proceed with or delay LDC graduation. She noted that Bangladesh remains unprepared despite relying on outdated statistics, although some preparations are underway.

On free trade agreements (FTAs), she remarked that in reality, “FTA means forced trade agreement or coerced trade deal—it has no other meaning.”

The seminar discussed the challenges and implications of LDC graduation, including the potential economic, trade, and policy impacts.