The New Nation - Internet Edition

Staff Reporter

Speakers at a view exchange meeting in the city held IMF responsible for increasing the price of essential commodities in the local market.

They urged people not to welcome the IMF President Rabert Joyelik in Bangladesh. They also said soon he would face Peoples' Tribunal for the crime against humanity.

They criticised the policy of World Bank, IMF and IDB in the meeting on "Domination of IMF: Economic Crisis in Bangladesh" organised by Ganotantrik Bam Morcha at the National Press Club yesterday.

Former Justice Golam Rabbani, Prof Anu Muhammad of Economics Department of Jahangirnagar University, Khalequzzaman, Coordinator of BSD, Dr Piash Karim of Economics Department of BRAC University, Prof Akmal Hossain of International Relations Department of Dhaka University, Adv Abdus Salam, Jonayed Saki, Coordinator of Ganosanghati Andolon, Moshrefa Mishu, leader of Biplobi Oikya Front, Tipu Biswas, among others, spoke, while Saiful Haque of Workers Party moderated the meeting.

Anu Mohammad said, " We are dependent on imported essential items. Our economy gets unstable by the effect of increasing price of essential items in the international market."

"By implementing IMF-WB-ADB's regional strategies our local industry has been destroyed. When these organisations talk about privatisation, they mean global capital not national capital" he added.

In his welcome address Khalequzzaman said in the last five years, Bangladesh received loan of Tk 142 crore 60 lakh USD which was half of what IMF assured. Bangladesh received foreign funds, which was only 2 to 3 per cent of the total national income.

But every year Bangladesh shoulders a large liability of interest on the loans. In the fiscal year 2007-08 about 13.5 per cent of the total Budget that is Tk. 10 thousand 785 crore was allocated for the purpose. Last year the Government spent Tk 9 thousand 154 crore on payment of interest on the loans.