EquityBd Demanded Democratic Reform in Global Finance Governance

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Index_161108Dhaka 16th November 2008. Today Equity and Justice Working Group Bangladesh (equitybd) has organized a press conference in Dhaka Reporter Unity, as stated they suppose to organize a human chain in front of national high court building on 15th November, but they failed to get police permission, in relation they have organized this press conference. They are observing one year anniversary of cyclone SIDR, simultaneously they are also protesting President Bush’s anti crisis meeting to day along with the heads G20 countries in Washington. This is the meeting happening to sort out on how to overcome present global economic crisis the world especially the developed and advance developed countries are facing. The press conference spoken by Rezaul Karim Chowdhury, Mostafa Kamal Akanda, Md. Shamsuddoha, AHM Bazlur Rahman, Sahadat Islam Chowdhury and others.

Speakers said that, according to the donors and World Bank assessment there was SIDR damage of 1.7 billion dollars but the country has received only 350 million dollar so far as aid from other countries, which is only reparation of 20.5 % of the total damages. The speakers mentioned climate change and carbon emission of the developed country is the major responsible of cyclone like SIDR in Bangladesh. They demand compensation as ecological debt from the developed country like USA and EU and also from advance developing countries like India, China and Brazil, who are also in line of developed countries, increasing their carbon emissions.

They demanded white paper from government, non government and UN organization on use of aid money in SIDR rehabilitation.

They also blamed the approach of unlimited freedom of market and limitless greed for profit is the main root cause of global financial crisis ultimately which is also creating climate catastrophic, especially causing worse suffering in Bangladesh. There is an initiative for reform in global financial governance from UN, Ban Ki Moon formed a committee headed by prominent economist Joseph Stiglitz, and by passing this President Bush has called this today’s meeting. Speakers mentioned that, this is an ill perceived approach just to save World Bank and IMF basically who is the promoter of blanket privatization and liberalization. Speakers demanded participation of all the UN members, especially civil society from developing countries in reform of the global financial governance, they also demanded World Bank and IMF should be brought under UN control.

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