International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday praised the leadership of Prof Muhammad Yunus, crediting him for Bangladesh’s remarkable economic turnaround since assuming office as the chief adviser of the interim government.

Georgieva spoke with the chief adviser via phone from Washington, DC, in the evening.

During their conversation, they discussed Bangladesh’s ongoing economic reforms, the regional landscape, and key challenges facing the country ahead of the general election scheduled for February.

“I am impressed by what you have achieved,” said Georgieva, referring to the state of the economy when Yunus assumed leadership in August last year.

“You’ve done so much in such a short time. You took responsibility for your country when the risk of deterioration was very high. You are the right person at the right time,” she added.

Georgieva particularly commended the stabilisation of the foreign exchange market and the recovery of foreign reserves following the government’s bold decision to introduce a market-based exchange rate.

Yunus thanked the IMF managing director for her steadfast support during one of the most critical junctures in Bangladesh’s history. “Thank you for the wonderful support.”

He recalled their first meeting during the UN General Assembly in New York last year, noting that it played a pivotal role in fostering the country's path to economic recovery.

Reaffirming the interim government’s commitment to a timely and credible election, Yunus said the polls would be held before the holy month of Ramadan in February. He reiterated that he would return to his previous work following the election.

During their conversation, the IMF chief emphasised the importance of increasing domestic revenue and implementing bold reforms in the banking sector.

“To be in a strong position, reform is inevitable. This is such a precious moment in the history of Bangladesh,” Georgieva said, urging the chief adviser to pursue deeper reforms in the months ahead.

Yunus outlined key measures already undertaken by his government, including restructuring efforts in the banking sector and initiatives to enhance revenue collection.

“We inherited a devastated and completely broken economy. Some individuals literally stole money in bags from banks and fled the country,” he said.

The two leaders also discussed regional developments, including the ongoing youth uprising in Nepal and Bangladesh’s ambition to join ASEAN.

Yunus shared updates on Dhaka’s major infrastructure drive, including new port and terminal projects aimed at enhancing regional integration.

Finance Adviser Salehuddin Ahmed and Finance Secretary Md Khairuzzaman Mozumder were present during the conversation.