The removal of Bangladesh Bank Governor Ahsan H Mansur, widely credited with steadying an economy that was on the brink of potential collapse, has been described by many as nothing short of a blunder by the new government. Of course, any government has the legal authority to appoint or remove a governor in pursuit of its economic agenda. Yet two aspects of this episode have shocked observers. First, the manner of Mansur’s departure, marked by public humiliation rather than a well-earned vote of thanks. Second, the appointment of a businessman burdened by apparent conflicts of interest and lacking expertise in banking and macroeconomic management. This mishandling of central bank leadership by the Bangladesh Nationalist Party (BNP) government warrants close scrutiny. However, responsibility does not rest with the current administration alone. The immediate past interim government also bears some blame. A draft law granting operational autonomy to Bangladesh Bank remained with...
Now that campaigning for the February 12 national election has officially ended and the manifestos of all major parties are before the nation, this is the moment—before we head to the polls—to pause and reflect on whether the plans and pledges we have heard have been adequately scrutinised. By global standards, this election so far appears to have relied almost entirely on competing “narratives” crafted and sold by parties and their leaders. Campaign strategists have been largely successful in pushing their respective narratives and counter-narratives, leaving us—the voters—with little choice but to judge personalities and rhetoric rather than policies and substance. In a democracy, elections are meant to be the ultimate test of politicians, rooted in public accountability. Town hall meetings and meaningful engagement with the media—including interviews and press conferences with question-and-answer sessions—are central to that process. Unfortunately, none of the party leaders offered ...