Bangladesh's Awami League has sounded the alarm over the nation's worsening economic crisis, blaming the Muhammad Yunus-led interim government for widespread financial distress, mass job losses, surging hunger, and the collapse of businesses and banking institutions.

The party claimed that more than 10 million jobs have been lost in the past year, food insecurity has spiked, small businesses have shut down in large numbers, and the banking sector is reeling under massive debt.

It said a considerable section of the population is now suffering from hunger, with many going without food for entire meals. Workers are being laid off in large numbers, and the once-thriving middle class is rapidly eroding.

The statement also highlighted that exports and imports have both shrunk significantly, production has slowed, and business profitability has deteriorated drastically under the interim administration's watch.

"The main reasons behind this crisis are the lack of effective government policies, incompetence, and widespread corruption. Due to the government's failure to implement sound economic strategies, Bangladesh has now plunged into a deep financial crisis. The country's illegitimate government and its inability to govern effectively have drawn widespread international criticism," the Awami League has said in the statement.

The party claimed that the global perception of Bangladesh has been damaged.

"Foreign governments, experts, and international media have repeatedly condemned Bangladesh's current administration and economic policies. As a result, foreign investors are hesitant to invest in Bangladesh, and the country's global reputation is suffering," it said.

The Awami League argued that genuine development requires effective policies, prompt decision-making, and sincere governance -- "elements that are now clearly missing."

According to the party, Bangladesh's long-term development plans have suffered major setbacks, and the country is lagging behind in global progress due to growing administrative inefficiency, economic turmoil, and declining diplomatic ties.

To reverse the current downward trend, the party stressed the urgent need for "correct economic policies, effective measures, and strong leadership," pointing out that restoring investor confidence would require substantial improvements in the country's political and economic climate.

The statement further asserted, "Ending political instability and corruption is crucial in building a functional and accountable government. Addressing this situation will require domestic policy reform, international cooperation, and public participation."

Reinforcing its criticism of the current leadership, the Awami League said that the interim government's "incompetence and mismanagement" are largely to blame for the "severe" economic crisis Bangladesh is now facing.

"The absence of foresight and lack of effective measures have inflicted serious harm on the lives of ordinary citizens," the party said.