The New Nation - Internet Edition

We are confused and we are not sanguine about the aims, objectives and activities of the World Bank and IMF.

Many underdeveloped and developing countries owe billions and billions of dollars of loans to World Bank and IMF which they are bound to repay along with millions and millions of dollars of interest consistent with the rate of change of foreign currency-the US dollars.

We fail to imagine how long, how many years, decades or centuries it would require for the underdeveloped and developing countries to repay the colossal loans. Thus the poor countries would go on becoming poorer and the rich countries richer day by day for indefinite period.

We are surprised why there is not any annual report on the activities, accountability and transparency of World Bank and IMF ?

It is also hard to understand why World Bank and IMF, both with their headquarters in Washington, USA, insist on the undeveloped and developing countries to raise the price of oil from time to time ?

The USA has invaded and occupied one of the world's biggest oil reserviors in Iraq. Is it not true that the USA is looting and plundering the oil fields of Iraq and dictating the world market price of oil through World Bank and IMF to meet the payment of sarlary and other heavy expenses for stationing US troops in Iraq and Afghanistan?

All the undeveloped and developing countries should unitedly demand in the UNO for an international enquiry into the mater and untold sufferings of the people.

O. H. Kabir

Dhaka, Bangladesh.