Committee for the Abolition of Illegitimate Debt

The CADTM denounces the brutality and violent crackdown against student demonstrators protesting against the government job quotas imposed by the government of Bangladesh. More than 150 deaths have been reported, while thousands of demonstrators have been injured. In a country where nearly 40% of young people lack employment and have limited access to education, the student movement is out in force on the streets, demonstrating against the decision that permits admission quotas into civil service positions. The prime minister imposed a nationwide curfew, gave the military orders to shoot at sight, and shut down almost all channels of communication, including the internet.

The CADTM denounces any action by the Bangladeshi government that undermines civil liberties. Despite the use of tear gas, stun grenades and live ammunition by the police, students continue to take to the streets.

The mass student protests erupted when the government, following a Supreme Court ruling, announced the reintroduction of ‘quotas’ for public employment, indicating that 30% of those jobs would be reserved for descendants of those who are considered ‘heroes of the independence war’ (1971). This ‘quota’ system had been suspended since 2018 when a wave of protests against it also had filled the streets.

Thousands of students from all universities spontaneously flooded the streets of Dhaka, Chittagong, and other cities. Coming from Dhaka University, Jahangirnagar, Rangpur, and Cumilla, young people staged sit-ins on the main avenues of the capital of 30 million people. The movement gained traction fast and attracted high school students and colleges in the nation’s interior.

Once the poster child for neoliberal reforms, Bangladesh’s economy has been experiencing a crisis since the middle of 2022. This crisis has resulted in high unemployment, inflation Inflation The cumulated rise of prices as a whole (e.g. a rise in the price of petroleum, eventually leading to a rise in salaries, then to the rise of other prices, etc.). Inflation implies a fall in the value of money since, as time goes by, larger sums are required to purchase particular items. This is the reason why corporate-driven policies seek to keep inflation down. , and declining foreign exchange reserves, which have compelled the government to seek bailouts from the IMF IMF
International Monetary Fund Along with the World Bank, the IMF was founded on the day the Bretton Woods Agreements were signed. Its first mission was to support the new system of standard exchange rates.

When the Bretton Wood fixed rates system came to an end in 1971, the main function of the IMF became that of being both policeman and fireman for global capital: it acts as policeman when it enforces its Structural Adjustment Policies and as fireman when it steps in to help out governments in risk of defaulting on debt repayments.

As for the World Bank, a weighted voting system operates: depending on the amount paid as contribution by each member state. 85% of the votes is required to modify the IMF Charter (which means that the USA with 17,68% % of the votes has a de facto veto on any change).

The institution is dominated by five countries: the United States (16,74%), Japan (6,23%), Germany (5,81%), France (4,29%) and the UK (4,29%).
The other 183 member countries are divided into groups led by one country. The most important one (6,57% of the votes) is led by Belgium. The least important group of countries (1,55% of the votes) is led by Gabon and brings together African countries.

http://imf.org .

The ruling Sheikh Hasina-led Awami League government, a darling of national and international capital, had already unleashed severe autocratic measures, virtually wiping out the very few vestiges of popular democracy in this politically fragile republic. The brutal attack on the student protests surpasses all earlier violence.

CADTM stands in solidarity with the families of dead and injured students. We also demand:

1. A public apology by the Prime Minister of Bangladesh for the deaths of the students.
2. The resignation of ministers responsible for repression and incitement of violence.
3. A thorough and impartial investigation into the role of police officials in indiscriminate firing on students resulting in deaths and thousands of injuries.
4. Compensation for death and injuries.
5. Resumption of academic activities.
6. No harassment of students for participating in the protests.
7. An independent international inquiry about the role of the Bangladesh government in this massacre.

CADTM International
Date: July 22, 2024