The New Nation - Internet Edition

Staff Reporter

People's Forum for MDGs (PFM), Bangladesh said yesterday that following a series of roundtables with civil society groups (PFM members like CPD, BUP, SUPRO, VOICE, ActionAid and Bangladesh Economic Association) who severely criticised the World Bank and IMF policies, the Bangladesh government has decided not to concede to IMF pressure and declared its stance against signing the controversial Policy Support Instrument (PSI).

The civil society groups have maintained that IMF strings have consistently lead Bangladesh to get into deeper debts with its hard conditionality and it is high time that we turn around and say no to such conditionalities imposed by institutions like the IMF. The government decision not to succumb to pressure and its stance against signing the PSI is a wise move on the part of the caretaker government and was hailed by all.

The High Court has also issued a rule in response to a writ petition filed by some activists/anti-poverty campaigners asking the government why it should not refrain from negotiating with IMF.

We, at PFM as part of GCAP's movement against unfair aid and trade, will always be part of this type of civil society campaigns all over the world.