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Category Archives: WB- IMF-WTO

Another WB car handed over to customs amid duty dodging probe

The World Bank has handed over another car to Bangladesh customs investigators probing allegations of evading duties. Two of the other sixteen cars allegedly in violation of customs law had previously been handed over to investigators, reports  An official from the World Bank’s Dhaka office brought the car and its documents to the Customs Intelligence and Investigation Directorate (CIID) ... Read More »

WTO countries set out to cut trade barrier

Refayet Ullah Mirdha, The Daily Star The Trade Facilitation Agreement (TFA) of the World Trade Organisation came into force from Wednesday as two-thirds of its 164 members ratified the deal that was accepted in Bali in December 2013. From now on, the WTO member countries will ease rules and reduce the cost of doing business by simplifying the administrative and ... Read More »

‘False Stories’ on Padma Graft Claim: HC for probe to find falsifiers

HC Correspondent The High Court yesterday ordered the government to explain in two weeks why it should not be directed to form an enquiry commission to identify the “culprits who made up false stories” about a corruption conspiracy involving the Padma bridge project. In a suomoto ruling, the court also asked the authorities to explain why they should not be ... Read More »

WB faces charges of misusing duty-free facilities The World Bank Dhaka office has been asked to inform the government whereabouts of 16 vehicles and submit pass books following allegations of misusing duty-free facilities for the vehicles.  The customs intelligence and investigations directorate has asked the WB country director to provide detailed information on the matter within the next seven days. The directorate’s director general Moinul Khan ... Read More »

Padma bridge corruption conspiracy: Acquittal sparks call for apology by WB

joywbpic Three former senior executives of SNC-Lavalin Group in Canada were acquitted in the Padma bridge corruption conspiracy case, a development that prompted calls for apology from those who were vocal against the alleged graft attempt. On Friday, Justice Ian Nordheimer of the Ontario Superior Court in Canada ruled that he had serious concerns about three applications the Royal Canadian ... Read More »

IMF, Greece split on outlook for economy

WASHINGTON, Feb 8, 2017 (BSS/AFP) – The International Monetary Fund and Greece are at odds over the outlook for the troubled European nation’s economy, a split that likely will continue to hold up further IMF financing. Greece Finance Minister Euclid Tsakalotos said the IMF report on the economy, released Tuesday, “fails to do justice” to his country by underestimating growth ... Read More »

WB to give $360 m to improve waterway connectivity With the aim to improve navigability of 900km waterways, the government on Wednesday signed a financial agreement of US$ 360 million with World Bank (WB). The improvement of waterways in Chittagong-Dhaka-Ashuganj Corridor and connecting routes would enable safe transport of passengers and cargo round the year. Senior Secretary of Economic Relations Division (ERD) Mohammad Mejbahuddin and Qimiao Fan, World Bank Country Director ... Read More »

IMF Board retains ‘full confidence’ in Lagarde’s leadership despite her conviction

WASHINGTON, Dec 20, 2016 (AFP) – The International Monetary Fund said Monday it retains “full confidence” in Christine Lagarde’s ability to continue to lead the organization, despite her conviction for negligence in a French court. The fund’s board met in the wake of the court decision finding her guilty in a 2008 case dating back to her tenure as French ... Read More »

IMF chief found guilty in French negligence trial


French judges found IMF chief Christine Lagarde guilty of negligence on Monday for failing to challenge a state arbitration payout to a business tycoon in 2008 when she was French finance minister, but they did not punish her, reports Reuters. “The context of the global financial crisis in which Madame Lagarde found herself in should be taken into account,” said ... Read More »

WB gets a pat on the back from Hasina for recognising Dhaka’s contribution


  Hasina, speaking at a ceremony in Dhaka to mark the End Poverty Day 2016 attended by senior officials of The World Bank Group including its president, listed the areas of successes in Bangladesh’s 45 years and hoped the international community would live up to its promises in helping reach climate change targets and SDGs, reports She said she ... Read More »