International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday lauded the leadership of Chief Adviser Professor Muhammad Yunus, crediting him for Bangladesh’s remarkable economic turnaround since he assumed office last year.

Georgieva made the remarks during a video call with Prof Yunus from Washington, D.C., in the evening, when they discussed the country’s economic reforms, the regional situation, and the key challenges ahead of the general election due in February.

I am impressed by what you have achieved, Georgieva said, recalling the state of the economy when Yunus took charge 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 said.

The IMF chief particularly praised the stabilisation of the foreign exchange market and the recovery of reserves following the government’s bold decision to introduce a market-based exchange rate.

Prof Yunus, in response, thanked Georgieva for her steadfast support during one of the most critical periods in Bangladesh’s history. “Thank you for the wonderful support,” he said.

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

Reaffirming his government’s pledge to hold a timely and credible election, Yunus said the polls will take place before the holy month of Ramadan in February. He reiterated that he would return to his previous work after the election.

Georgieva, meanwhile, underscored the need for stronger domestic revenue mobilisation and 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, she said, urging the interim administration to press ahead with deeper reforms.

Yunus outlined measures already undertaken by his government, including banking sector restructuring and initiatives to boost revenue collection.

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

The conversation also touched on regional developments, including the ongoing youth uprising in Nepal and Bangladesh’s ambition to join ASEAN.

Yunus briefed the IMF chief on Dhaka’s major infrastructure drive, including new port and terminal projects aimed at strengthening regional connectivity.

Finance Adviser Dr Saleh Uddin Ahmed and Finance Secretary Khairuzzaman Mozumder were present during the call.