The AEJB, a platform of 36 organisations including Campaign for Good Governance, organised the press conference at Dhaka Reporters Unity auditorium prior to 50th summit of WB and IMF scheduled to be held in Singapore from September 14 to 20.

Rezaul Karim Chowdhury, secretary of the Campaign for Good Governance, tabled a number of proposals urging immediate reforms in those two organisations.

Holding up the UNDP's Human Development Report 2005, he said, "Most countries are off track to meet the MDGs. Human Development is faltering in some key areas, and deep inequalities are already widening."

In a keynote paper Rezaul demanded sovereignty of the country in choosing sustainable economic strategy as the record proved that conditions imposed by WB and IMF have increased the rate of poverty and make room for plunder instead of production.

"The poor countries have to be provided with unconditional debt," he said, adding that proper investigation into the disbursement policy of debt is also necessary.

Rezaul said, "Debt flow has been slimmed in these days comparing to those during military regime, the people will not bear the onus of the corrupt government."

He also insisted that the IMF has to be withdrawn from the process of debt disbursement.

The paper showed despite the review of the National Board of Revenue that withdrawing tax facility and incentives from the export-oriented agro-processing industry will create hazard for the economy, the government had to bow down to the condition of WB and IMF for releasing the sixth instalment of Poverty Reduction & Growth Facility (PRGF) debt.

The WB and IMF with larger share and capital are in a position to determine the fate of the least developed countries, Rezaul said, adding, "We demand equal participation, a balance between the developed and the least developed countries."

Pointing finger at the two organisations for making the domestic firms like BAPEX, and Petro Bangla inactive, he said they have made room for foreign exploration companies like Unicol / Oxidental, Niko and Asia Energy and thus restricted government's authority to monitor, research and extraction of natural resources.

"Even they fuelled the military juntas in Sudan, Burma and Congo to pile up bucks and heralded destruction to their reserves," he added.

Rezaul said the WB and IMF are now exerting all their efforts to reduce government control over social programmes in education, health, water, power, telephone and infrastructure sectors and imposed privatisation and tightening of government expenditure.

"The WB allured a project worth Tk 100 million and demanded increase of fee in government institutions. In last 50 years they contributed nothing but now have decided to assist on condition of leaving the power sector to private ownership," he added.

Transparency and accountability have to be ensured from home rather than from the WB-IMF-prescribed 'governance specialists', Rezaul said, demanding 'Full disclosure of Policy' from the local WB and IMF offices.

It has to be ensured that the upcoming summit will focus on 'Governance and Anti Corruption', he said adding that instead of playing the role of 'Global Policeman' the WB and IMF will have to assist all countries to sign a UN convention against corruption.

To intervene the WB and IMF move, the AEJB has adopted some draft proposals which would be publicised through a number of programmes including seminars on September 4, 6 and 11, submitting memorandum to deputy commissioners of 46 districts, lawmakers and finance minister, holding rally and forming human chain on September 16 in 46 districts, participating at Singapore summit and creating awareness through holding meeting there.