Bangladesh, Dhaka: Bangladesh Prime Minister Sheikh Hasina's 15-year rule ends as she flees to India amid massive Dhaka protests. Economic losses reach $10B, and unrest continues.

Sheikh Hasina's Resignation and Its Aftermath

Who is Sheikh Hasina?

Sheikh Hasina has been Bangladesh's Prime Minister since 2009 and also served from 1996 to 2001. Born in 1947, she is the daughter of Bangladesh's founding father, Sheikh Mujibur Rahman. Her tenure was marked by efforts to boost the economy but faced criticism for becoming increasingly authoritarian with allegations of extrajudicial actions and suppression of dissent.

Why was Bangladesh engulfed in protests and social unrest?

Protests and unrest erupted following Hasina's controversial visit to China and her derogatory comments about protesting students. The government's heavy-handed response to the protests, including violent clashes and accusations of mismanagement, intensified public outrage and led to widespread calls for Hasina's resignation.

Why did Hasina quit?

The escalating violence and mass protests overwhelmed Hasina's government. With mounting casualties, a nationwide curfew, and an internet blackout, the situation became untenable. The army's refusal to enforce the curfew with force contributed to Hasina's decision to step down. Criticism also came from the international community and the Bangladeshi diaspora.

What happens next?

An interim administration is expected to take over, with discussions planned among major political parties. There are calls for Nobel laureate Muhammad Yunus to lead as chief adviser, despite his current legal challenges. The army's chief has urged calm and ruled out a military government.

What does this mean for the crisis-hit economy?

The economic impact has been severe, with $10 billion in losses reported due to unrest and curfews. The already struggling economy faces further risks, especially in the critical apparel sector, which could affect global retailers like H&M and Zara. The sector is crucial, accounting for a significant portion of Bangladesh’s export earnings.