Indonesian Political, Business & Finance News

World Bank criticized on birthday

World Bank criticized on birthday

The Jakarta Post, Jakarta/Pekanbaru/Yogyakarta

Hundreds of activists in three cities commemorated the 60th World Bank anniversary on Thursday by staging rallies to protest the bank's capital-driven policies and its economic interference in developing countries, including Indonesia.

In Jakarta about 500 activists, as well as residents from Bojong and Garut in West Java started their rally at the Hotel Indonesia traffic circle before marching three kilometers to the World Bank Center where more speeches were made.

The long march, which started in the lunch hour, caused a traffic jam along Jl. Thamrin and Jl. Sudirman.

The protesters carried the effigy of a giant red octopus. They said its tentacles symbolized developing countries' huge debts to the World Bank, which were keeping their people in poverty.

"We can see through all of its 60 years of operation, the World Bank's policies have only worsened poverty and the environment in these countries," Longgena Ginting, the executive director of the Indonesian Environmental Forum (Walhi), said.

Longgena also criticized the Indonesian government. The already poverty-stricken people here now had to pay the price for the government's imprudent borrowing from the bank and corrupt use of the money through the high cost of education, health, and other public services, she said.

The demonstrators demanded the world financial institution write off the debts of all poor countries, and end its support of oil, gas and mining industries as was recommended by the Extractive Industries Review (EIR).

The EIR is an independent study initiated by World Bank President James Wolfensohn in 2000 to review whether oil, gas, and mining projects funded by the bank had significantly contributed to poverty eradication and created sustainable governance in debtor countries.

Longgena said the anniversary week was a good time for the bank to decide whether it would adopt the EIR's recommendations.

Other non-governmental organizations joining the rally on Thursday were the Indonesian Corruption Watch, the Federation of Indonesian Farmers, the Students League for Democracy, the Association of Islamic Students and the Coalition Against Debt.

In Pekanbaru Riau, about 30 activists from Walhi Riau also commemorated the World Bank's 60th birthday by marching from the Sudirman traffic circle to the Pekanbaru mayor's office, which also disrupted traffic.

In written statements, the activists demanded the World Bank erase all of Indonesia's debts and stop its intervention in the country.

In Yogyakarta, dozens of college students grouped in the Indonesian Youth Struggle Front (FPPI), gave speeches in front of the city's central post office to express their disappointment over the World Bank's 60 years of operations.

FPPI general secretary Andi Ruspriyanto said in his speech the World Bank's debt mountain had effectively robbed Indonesia of its sovereignty by turning it into a passive player open to foreign control.

"The World Bank must be disbanded; we must regain our sovereignty," Andi said.

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