Dhaka, May 22 -- Prominent economist Professor Abu Ahmed has questioned the logic behind complying with all the conditions set by the International Monetary Fund (IMF) saying that following every prescription does not ensure economic progress.

"If the IMF's conditions worked perfectly, countries like Pakistan, Nigeria and Ghana would be among the richest economies in the world," he told UNB over the phone.

Professor Abu Ahmed, who serves as Director and Chairman of the Investment Corporation of Bangladesh, pointed out that Pakistan has sought IMF bailouts 24 times yet continues to struggle economically.

He came up with the remark when asked about the recent turmoil in the National Board of Revenue (NBR) over the proposed move to split ...