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Anu Muhammad

Crime and reward: Immunity to the World Bank

by Anu Muhammad

31 October 2004

It seems that the World Bank has become impatient to get complete immunity in Bangladesh. Why? What it has done that it needs immunity to save its skin? Why is the government moving fast to give complete immunity to the World Bank? What makes the champion of transparency and development nervous of the court and public scrutiny? Is it only to keep reported internal irregularities under the carpet, or more? We are concerned for reasons I would like to explain.
The International Monetary Fund (IMF) and the Asian development Bank (ADB)
were given full immunity in 1972 and 1973; the World Bank was then given
partial immunity. Now the government of Bangladesh has taken an
initiative, not to correct the wrong, but to complete the wrong, to give
full immunity to the World Bank.
Since then the World Bank, along with IMF, ADB, and other international
agencies, has been playing a leading role in formulating policies and
monitoring implementation of its agenda. In different ways it has been
working to influence the direction of the economy of countries like
Bangladesh according to the needs and ideology of global power. (...)

Anu Muhammad is a Professor, Department of Economics, Jahangirnagar University.

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