As far as the performance of the interim government is concerned, it has been a mixed bag of reactions. Though the government has failed miserably in many cases, it is also true that the stopgap administration has fared well on several fronts. Especially in consideration of diplomatic gains, it can be assumed that the interim government is not missing the mark completely as Dhaka is shining in diplomatic efforts.

Of late, Bangladesh’s Foreign Adviser Md Touhid Hossain has visited China, which is being dubbed as a successful visit owing to some positive developments. As for example, China has agreed in principle to extend the loan repayment period for Bangladesh from 20 years to 30 years for both the Preferential Buyer’s Credit (PBC) loan and Government Concessional Loan (GCL), which is a diplomatic win for Dhaka. During the visit, Touhid has requested its Chinese counterpart to reduce interest rate from 2-3% to 1%. In response, Chinese foreign minister has promised to look into the matter and reach a solution that will benefit both the countries. Such positive outcomes are indicative of better diplomatic demarches that could turn things in our favour in the long run.  

The dexterity shown by our foreign adviser deserves appreciation. Such a generous step by China would definitely help Bangladesh to turn the corner and experience a quick economic rebound, especially at a time when the country is heavily burdened with rising external loans and the mounting pressure on reserves caused by foreign debt servicing. Extended loan period will ease the pressure on our economy, which will also take some weight off the masses’ shoulders. Thanks to the diplomatic gambits played by the interim government, the country is reaping some benefits.

However, we expect that the interim government will keep playing all its diplomatic cards to get an upper hand when it comes to negotiating terms with other powerful countries as well. To be particular, it is important to reassess treaties signed with other countries to sort out unequal deals that are not benefitting Bangladesh. While doing so, the interest of the countrymen should be the deciding factor. Anything that goes against the greater interest of the countrymen should be reevaluated and if necessary, reconciled to make sure that the deal turns out to be beneficial for both the signatories.