Debapriya’s call for audit into deals under Yunus regime gains momentum

Renowned economist and Distinguished Fellow at the Centre for Policy Dialogue (CPD), Dr. Debapriya Bhattacharya, has issued a compelling and timely demand: the new BNP-led government must immediately establish a robust transition team to conduct a thorough forensic review of the staggering financial liabilities, dubious procurement contracts, and opaque foreign agreements inherited from the controversial Yunus interim regime.

His call is not mere academic advice—it is a clarion demand for transparency, accountability, and the dismantling of the entrenched corruption that has bled the nation dry.

Speaking at a high-profile media briefing titled “Economic Review at the Starting Point of the New Government,” organised by the Citizen’s Platform for SDGs, Bangladesh, at BRAC Inn Centre on Thursday, Bhattacharya minced no words.

“Reviewing the outgoing government’s economic decisions is essential to properly understand the macroeconomic situation and formulate sound policies,” he asserted. He urged the formation of a professional transition team—standard practice in developed democracies—to perform an objective, institutional “forensic review,” not as a political vendetta, but as a dispassionate post-mortem of the financial wreckage left behind.

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This review, he stressed, must scrutinise public procurement deals, mega-project decisions, and especially the shadowy foreign agreements signed under both regimes. “The former interim government entered into various foreign agreements—not only with the United States or in relation to port matters, but also in other areas that may not yet be publicly known,” Bhattacharya warned.

“These foreign agreements should be reconsidered.” Such secrecy and haste raise red flags of potential sweetheart deals, kickbacks, and long-term burdens that could enslave future generations to unsustainable debt.

Bhattacharya’s recommendations are crystal clear and urgently needed:

– Prepare detailed briefing documents for each ministry, laying bare current liabilities, risks, debt profiles (domestic and foreign), interest payment pressures, and long-term implications.

– Publish a comprehensive White Paper or “Blue Book” to guide policy and restore public trust.

– Present a full financial statement to parliament by the end of March 2027, in line with the Public Finance and Budget Management Act, 2009—the strongest bulwark for fiscal transparency.

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He cautioned against reckless haste in implementing the government’s promised 180-day action plan, warning that rushing fiscal decisions in the current year could compound existing crises. Instead, he advocated fiscal restraint this fiscal year, meticulous planning for the next, and a phased approach that respects budgetary realities.

The economist did not shy away from naming the elephants in the room. He highlighted the persistent menace of politically connected syndicates controlling supply chains for essentials—syndicates that have thrived under both the Awami League and Yunus regimes. “Leaders of the new ruling party have pledged to dismantle these syndicates,” he noted pointedly. “We are waiting to see that from the very first day.”

Echoing Bhattacharya, fellow economist Mustafizur Rahman called for phasing out costly remittance incentives (currently draining nearly Tk 90 billion in subsidies annually) and allowing a more market-oriented exchange rate to boost inflows without artificial props.

Towfiqul Islam Khan, presenting the keynote, painted a grim picture: weak macroeconomic stability, faltering private investment and employment, and severely constrained fiscal space. CPD’s recommendations—gradual exchange-rate depreciation, subsidy rationalisation, realistic budget revision, and phased implementation of electoral pledges—align squarely with Bhattacharya’s forensic-audit imperative.

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Dr. Bhattacharya’s intervention could not be more timely. The nation stands at a crossroads: burdened by trillions in hidden debt, questionable mega-projects, and foreign pacts shrouded in secrecy, Bangladesh risks repeating the cycles of mismanagement and plunder that defined previous eras. A forensic review is not optional—it is indispensable to expose irregularities, recover misappropriated funds, renegotiate exploitative deals, and rebuild public confidence.

The new government must heed this call without delay. Anything less would betray the mandate for change and allow the ghosts of past corruption to haunt the future. Debapriya Bhattacharya has spoken truth to power—now it is time for the power to act with courage and integrity.