IMF, WB to back B'desh in tackling recession

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The International Monetary Fund (IMF) will give Bangladesh and its neighbouring countries all necessary cooperation in tackling possible impacts of the current global economic meltdown, reports UNB.
Representative of Bangladesh, India, Bhutan and Sri Lanka in the IMF Dr Adarsh Kishore, also executive director of the donor agency, gave the assurance when he called on Prime Minister Sheikh Hasina at the Prime Minister's Office (PMO) on Monday afternoon.
Dr Kishore observed that the current across-the-board economic recession is "the ever biggest after the 2nd World War."
The IMF official greeted Hasina on her assumption of the office of Prime Minister and highly praised her for resolving the BDR carnage on February 25-26 "quickly and peacefully."
They discussed various other economic issues of national, regional and international importance.
PMO secretary Mollah Wahiduzaman and press secretary to the PM Abul Kalam Azad were also present.
Meanwhile, World Bank country director Xian Zhu Monday assured the government of its all-out cooperation in facing the global economic downswing and protecting the poorest from its impacts.
"We're ready to help Bangladesh tackle this crisis… we'll provide financial support, if needed," the WB country director said when he met Planning Minister Air Vice Marshal (retd) AK Khandker at his office.
Replying to a question, Xian Zhu told reporters that the WB would help Bangladesh formulate plans and policies apart from procurement, as it believes in 'united efforts' to bring success in any project.
"We suggested the minister to improve the Annual Development Programme (ADP) and ensure its fullest implementation," the WB country director said.
He thinks successful and quick implementation of ADP might help Bangladesh overcome the global financial crisis, and create a positive impact on employment generation and alleviating poverty.
"We're actually monitoring the situation, and we discussed how we can help Bangladesh minimise the risks arising out of the global financial crisis," Xian Zhu said.
He emphasised protection of the poorest section of the country from the blow of the crisis, and suggested steps for employment generation.
Replying to another question he said, the impacts of the global financial crisis on Bangladesh are 'limited.' "However, we're ready to provide all kinds of cooperation to mitigate the crisis."
The WB country director favoured to work jointly with the developed and developing nations in tackling the financial meltdown.
Director of the World Bank on Operational and Quality Services for South Asia Region Barbara Kafka was also present at the meeting.
Earlier, they discussed various issues, including poverty alleviation, millennium development goals (MDGs), Perspective Plan 2021, Public Procurement Reforms Project-II and Strengthening of Central Procurement Technical Unit.
The Planning Minister said the government is implementing various development programmes to alleviate poverty and achieve the MDGs. He hoped Bangladesh will be able to achieve the MDGs by 2015.