The New Nation - Internet Edition

Staff Reporter

President of Bangladesh Gono Shakti Party (BGP), a newly launched political party, Tahmidul Islam has suggested the formation of central economic development fund to serve as a new mechanism to accelerate the pace of economic development of the country and avoiding totally the World Bank and IMF debt burden long term vicious circle-trap.

In a press release, the party chief criticised the role of World Bank and IMF and appealed to the countrymen not to follow their prescriptions, which had generated much protest in the intellectual, financial, economic and political circles.

World Bank, despite public protest, compelled to close down the Adamjee Jute Mill, the largest mill of Asia causing great damage to our economy, he said.

He further observed that the World Bank prescriptions had proved to be harmful for the state and as such the government should not accept and materialise unsound prescriptions of the World Bank and IMF.