Drowning with Debt or Development
Building People’s Agenda on ODA Accountability: Bangladesh PerspectiveThis paper critically analyses the fact of increasing the number of LDCs
(Least Developed Countries) amidst the World Trade Organization’s effort of
trade balance and, also analyses the fact of decreasing ODA (official
development assistance). Considering various economic criteria, ODA
trend, MDG progress and country’s socio-political scenario, this paper
justifies that Bangladesh has the right to have more ODA. Indebtness of
Bangladesh to foreign loan is growing, presently around $151 or taka
10,419 per person. Total debt service liability has already crossed country’s
annual national health budget, in contrary ODA has declined around 37
percent from 1999 level.
Bangladesh’s progress of achieving Millennium Development Goals (MDG)
is promising although the conditionalities of neo liberal regimes (the
conditionalities of international financial institutions -IFIs like the World Bank
(WB) , International Monitory Fund (IMF) and Asian Development Bank(ADB) perpetuating the pauperization. On the other hand, Bangladesh does not qualify to be eligible for debt cancellation as the IFIs (International Finanical Institution) sets the eligible criteria on the basis of country’s debt
vs export ratio. Mr. Kofi Anan, the ex Secretary General of the United Nations and especially Mr. Jaffrey Sachs, special advisor to the present UN Secretary General criticizes this debt vs. export ratio; they mentioned it should be linked to MDG achievement and by 2015 the LDCs should not
fall in new debt overhang. Kofi Annan, in his report during UN + 5 millennium summit, argued for debt cancellation and grant based support, even for the middle income countries.
Please download the position paper file [English]
