Editorial: Time to heal wounds

In Yunus, a pioneer in microfinancing and known as ‘banker to the poor’, Bangladesh has found a healer

The octogenarian Nobel Laureate Muhammad Yunus, who took over as the head of an interim government in trouble-torn Bangladesh, faces multiple challenges on political, social and economic fronts. The immediate and formidable task before the renowned economist is to restore law and order amid worsening violence particularly targeting the minority Hindu community. Following the dramatic ouster of long-time Prime Minister Sheikh Hasina, the country has been in the grip of turmoil with mob violence continuing unabated. In Yunus, a pioneer in microfinancing and known as ‘banker to the poor’, Bangladesh has found a healer. Since he commands respect among the masses — the leaders of the students’ movement too wanted him to lead — he must marshal all his skills to unite and heal the country caught in political turbulence. The economist’s global acclaim and non-political background make him a unique choice. He has, in recent weeks, warned about the serious regional implications if the unrest continues. On scrutiny would be Yunus’ ability to effectively channel the respect he commands to put an end to the anarchy. He also needs to continue the task of building a modern secular society. The past experience has been that the fundamentalist forces never shy away from exploiting volatile situations and carrying out attacks on minorities, especially Hindus whose contribution during the liberation struggle is well known. If the Islamist elements are allowed a free run, it would spell doom for the country and harm the interests of minorities.

Such a course of events would also have an adverse impact on India. A stable, peaceful and secular Bangladesh is in the best interests of the region. On its part, New Delhi must extend support to the new regime and work with a spirit of mutual respect and cooperation. The stakes of the bilateral relationship are too high to be distracted by temporary setbacks. The last decade has seen a dramatic transformation of bilateral relationships and a deepening of trade ties. Initiatives like the BBIN (Bangladesh, Bhutan, India, Nepal) agreement, to promote safe and environmentally sound road transport in the sub-region, and the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) free trade agreement could further strengthen economic cooperation and regional integration. By engaging closely with Dhaka, India has been asserting its independent foreign policy approach, even though the United States was critical of the Hasina-led Awami League government’s human rights record. The two countries have promised to focus on the unfinished agenda of connectivity that includes the easing of visa procedures, freer movement of goods, cross-border energy and electricity flows, and the building of digital bridges. Bangladesh has also emerged as one of India’s most important trade partners. The Indo-Bangladesh ties will have the potential to positively impact the broader South Asian region by setting new standards for regional cooperation.

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