DHAKA, Bangladesh 

In a farewell address on Monday, outgoing interim leader Muhammad Yunus told the nation of 176 million that Bangladesh’s foreign policy “is no longer submissive” and that relations with all countries will be “based on mutual respect and national interest.”

“Bangladesh is no longer dependent on a submissive foreign policy or on the instructions and advice of other countries; today’s Bangladesh is confident, active and responsible in protecting its independent interests,” said Yunus, who took the helm at the peak of the summer uprising of 2024, which ended the 15-year rule of the Awami League, whose Prime Minister Sheikh Hasina fled to India on Aug. 5 that year.

Yunus took charge on Aug. 8 and led an interim administration for 18 months, including holding historic elections last week in which the Bangladesh Nationalist Party (BNP) won a two-thirds majority in the 300-seat parliament.

The BNP, led by Tarique Rahman, is set to take oath as the new government on Tuesday after securing 209 of 300 seats.

The election held on Thursday “will be a prime example of how Bangladesh's elections should be in the future. This vote is not just a transfer of power—it marks the beginning of a new chapter for Bangladesh’s democratic system… the birth of a new Bangladesh,” said Yunus, who is a globally renowned economist.

“After faithfully fulfilling the responsibilities entrusted to me for the past 18 months, I have come to bid you farewell today as the chief advisor of the interim government on the eve of handing over to an elected administration,” he continued.

Yunus recalled the poor economic status of Bangladesh left behind by Hasina’s government.

“The previous government left us with a bottomless economy. It embezzled $234 billion and left behind a huge debt burden. Now, as I leave, I am relieved that we have been able to cope with the situation, and we can leave behind the foundation of a new economy with a foreign reserve of $34 billion and record remittances,” said the outgoing leader.

Yunus, Bangladesh’s lone Nobel laureate and the country’s most renowned "global citizen," is a social entrepreneur, banker and economist.

He is best known for his pioneering work in microfinance and social business. He gained international fame for founding Grameen Bank in 1983 and was awarded the Nobel Peace Prize in 2006 for his contributions to economic development and poverty reduction.