Amir Khasru Mahmud Chowdhury has been sworn in as the Minister of Finance and Planning in the cabinet of the Bangladesh Nationalist Party (BNP) government. He understands not only business and trade, but also macroeconomics quite well. During my tenure at Bangladesh Bank from 2015 to 2016, I had the opportunity to hear him speak at various forums on multiple occasions. He would highlight the policy mistakes that were harming the financial system.

He was deeply dissatisfied with the banking sector, which he attributed to political interference. He claimed that the BNP government had abolished the Financial Institutions Division (FID) under the Ministry of Finance. After 2009, however, the Awami League government revived it, further fueling a surge in non-performing loans in the banking sector. That very issue has now become his responsibility.

Over the past one and a half years, most economic indicators had been on a steady decline. Toward the end of its tenure, the government led by Muhammad Yunus signed a number of agreements that appear to serve foreign interests. It was clear that the new government would begin its tenure in a difficult situation. Without undertaking any meaningful reforms in revenue collection, the Yunus administration showed enthusiasm for introducing a new pay structure, effectively planting a landmine for the incoming government.