U.S. Seeks to Aid Bangladesh’s Economic Stability

U.S. officials will engage with Bangladesh's interim government to explore supportive measures for the country's economic growth. The delegation, including representatives from various U.S. departments, aims to discuss fiscal policies and financial stability. Meetings will also be held in India to discuss defense cooperation and regional collaboration.

U.S. officials are set to engage in discussions with Bangladesh's interim government to determine how the United States can assist in bolstering the nation's economy and development, according to the U.S. State Department on Tuesday.

The interim government, spearheaded by Nobel Peace laureate Muhammad Yunus, took charge last month following the ouster of prime minister Sheikh Hasina. Aiming to stabilize the country and conduct elections, the new leadership is in dialogue with a U.S. delegation that includes Donald Lu, the assistant secretary for South Asia. Lu's itinerary also includes a visit to India from Sept. 10-16.

The delegation comprises representatives from the U.S. Treasury, USAID, and the Office of the U.S. Trade Representative. Discussions will focus on fostering economic growth, ensuring financial stability, and addressing development needs. The Financial Times reported that the meetings in Dhaka will cover fiscal and monetary policy as well as the health of Bangladesh's financial system. Brent Neiman, assistant U.S. Treasury secretary for international finance, expressed optimism about Bangladesh's potential for economic reform and growth.

Bangladesh's economy has faced significant setbacks due to the Russia-Ukraine conflict, prompting the country to seek a $4.7-billion bailout from the International Monetary Fund last year. Meanwhile, in India, Lu and U.S. Principal Deputy Assistant Secretary of Defense for Indo-Pacific Security Affairs Jedidiah Royal will discuss defense and regional cooperation.

(With inputs from agencies.)