The present global Macro-economic policy

There is no denying the fact that the loom to macroeconomic stabilization in developing countries underwent a major change in the late 1970s paving the way for the implementation of structural adjustment programmes in developing countries supported by the IMF and World Bank in the early 1980s. The experience of the 1960s and 1970s suggested that the causes of macroeconomic disequilibria were profoundly deep-seated in the make-up of the economy and could not be addressed through short-term fiscal and monetary policies alone. The focus of stabilization policies shifted from the macro economy per se, to include the macro, and micro economy. Structural adjustment policies have come to influence all sectors of the economy and permeate virtually every aspect of short and medium term economic management in Bangladesh due to the country’s excessive dependence on confessional external assistance.

 

In July 1975, in an agreement with IDA and IMF, the government of Bangladesh made a major adjustment programme with a devaluation of exchange rate by 58% and agreed to initiate adjustment measures such as liberalisation of import, tight control on Bank credit, increase of Bank rate and other interest rates, abolition of multiple currency system, reduction of Bank borrowing, rationalisation of the tax system, gradual reduction of subsidy on food grains and agricultural inputs, enhancing efficiency and financial performance of the public enterprises. ‘The government launched a medium- term structural adjustment program in the mid 1980s to promote financial stability and the efficient use of resources. The program was supported by the IMF, the World Bank, and other organisations. The government adopted a policy program to:

 

1.      To spur private investment through financial reform, exchange and trade liberalisation, and industrial deregulation,

2.      To facilitate public invested by domestic revenues, curtailing government consumption, and improving project implementation,

3.      To Reduce inflation, and

4.      To improve human resource development’.

 

Bangladesh, like many other embryonic countries, is still struggling with the traditional administrative systems which never come out with desired objectives. Public sector organisations of Bangladesh have similar patterns following the traditional administrative system at the cost of taxpayer’s money but not responsible and accountable to the taxpayers. Bangladesh being a typical Third World country is practically over loaded with reforms. In fact, it is one of the first nations in the South Asian region which accepted the SAP reform packages as early as the 1980s .Structural adjustment in Bangladesh started with the IMF in December 1980 on extended fund facilities. It was followed up by another loan agreement under the conditionality in the name of Structural Adjustment Facilities (SAF) for the period 1986-87 to 1988-89. After a year, Bangladesh contracted another three-year loan under the enhancement structural adjustment facility of IMF covering the period 1990-91 to 1992-93.       

Structural adjustment policies adopted in Bangladesh fall into three broad categories:

 

(1) Demand management policies;

(2) Structural policies; and

(3) Institutional policies.

 

 

Demand management policies are aimed at bringing aggregate demand in line with aggregate supply. The major instruments used in this regard include

 

(1) tight monetary policy through restrictions on credit in the form of savings and controls on both the public and private sector with improving the balance of payments; and (2) tight fiscal policy with cut backs of government expenditures as its main feature aimed at reducing the fiscal deficit.

 Structural policies include those aimed at improving provision and productive efficiency and increasing domestic savings and investment. Specific policies under this package include: (1) withdrawal of food and input subsidies, and output price support; (2) financial liberalization to allow the financial markets to reflect the true opportunity cost of capital; (3) rationalization of public enterprise pricing policies to eliminate haziness between cost and revenues; and (4) liberalization of trade through abolition of quantitative restrictions on imports and reductions in the level of tariff protection. Institutional policies essentially consist of denationalisation and privatisation policy allowing greater competition in the economy.

 

The structural adjustment policies in Bangladesh as a whole thus cover every aspect of public policy and most sectors of the economy viz, public expenditures interest rates, exchange rates, credit ceilings, tax and tariff regimes, market structures, reforms in public enterprises, civil administration reform, financial sector reforms, decentralization, privatisation, improved management practices, rationalization of pricing policy etc. One of the primary foci of SAP in the context o9f Bangladesh is to rationalize the administrative set up and enhance the productive capacity of public administration. As far as public administration is concerned the reform package under the SAP has stressed taking measures to improve the performance of public sector enterprises, privatise selected areas of the public sector; and rationalize the scope of public delivery and services.  The public sector is the dominant sector in Bangladesh and covers about 75% of the development outlay of the country. A major sector of the economy is controlled by public enterprises whose performance is found to be disappointing. The rate of completion of targeted public sector development projects in Bangladesh during the last one and a half decades never exceeded an average of 45% . In spite of its importance in the economy, almost all the public sector enterprises are running on recurring losses

World Economic strategy of IBRD

There is no denying the fact that embryonic countries constantly demonstrate a predisposition to bring in the policy pronouncement of highly developed countries in their delicate resources despite the shifting of overall socio-economic procedure virtually. In bona fide world state of affairs aspects that next to influence the strategy decisions of budding countries are found fictional in progressive countries. It is evident that reserve constraints and technical non-progressive phenomena are two focal setting that formulate the budding countries reliant upon the advanced countries. The highly developed countries make available financial assistance for the economic development of the developing countries through unusual multilateral and bilateral donor agencies, which are officially termed as ‘Development Partner’

 

The ‘Development Partner’ all the way through their lending tricks plays a vital role in the policy-making method of developing countries. The intact process is now more evident in an interestingly univocal world order that materialize after the collapse of communism as a governing and economic system in the 1980s. The international financial agencies more than ever the World Bank and International Monetary Fund as policy shift pursued a free-market-based world order where the developing countries were urged, cajoled and hard-pressed to initiate market economy through structural modification reforms.

As a result, over the last one-decade developing countries have made changes in their state oriented development strategy mostly in line with the policy advice of the Development Partners.

Development Partners. tend to justify their role in policy decisions of recipient countries that aids are given from the taxpayers’ money of the advanced countries who preserve the right to know whether money is being utilized in proper ways. Despite continued financial assistance by the Development partners a vast majority of world population in the recipient countries live under the poverty line and unable to meet their basic needs. Increasingly Development partners are becoming concerned with the aid effectiveness and often attribute the underdevelopment of third world countries to their inappropriate internal policies. Although the failure of IMF’s policy advice in managing the financial crisis in East Asia has given rise counter argument that the economic crisis afflicting the developing countries was fundamentally global in nature

 

The World Bank in its policy research report, “Assessing Aid, What works, What doesn’t, and Why” has laid emphasis on the internal policies of the recipient countries as important factors to make aid effective. In different international forums including the Aid Consortium Meeting that held under the auspices of the World Bank, the Development partners review the policy issues of the recipient countries with top priority; and before making any aid commitment want to make it sure that appropriate policy environment is prevailing in the recipient countries.

Among the Development partners the World Bank (WORLD BANK) is the most important whose confessional financial assistance has allowed it enormous access in the policy making process of developing countries which we can see with particular reference to Bangladesh.

 

The World Bank in the form of International Bank for Reconstruction and development has been working in Bangladesh since 1972, soon after the emergence of Bangladesh, its role in different sectors of development of Bangladesh is being geared up on a large scale. Robert Dr. McNamara was the First World Bank president visited Bangladesh in the year 1972 to weigh up the aid necessity of the war shattered country. The then highly nationalistic government that piloted to the emancipation of the country from occupying Pakistani forces was very much critical about the Bank’s close allies with the Pakistani regime. The dispute that emerged between the Bank and GOB was the issue of the Bangladesh’s share of debt liability. At those hyper critical states the then government declined to take the responsibility of debts taken by the erstwhile Pakistan government from different bilateral and multilateral donor agencies. In the First Aid Consortium meeting of donor countries, which was held in Dhaka in March 1973, the Bank exerted pressure upon the government to come to a solution on the debt issue. After long parley the then government had accepted an inherited debt liability of $483 million against the projects, completed before independence and physically located in the territory of the erstwhile East Pakistan. The process through which Bangladesh resolved it’s past debt liability was viewed as highly instructive and mentioned as a glaring example of the Bank’s pressure on Bangladesh. But dependence upon the external aid left very little option for the government of the newly independent country to reject the Bank’s conditional lending offer. Domestic resources that were available to the economy found inadequate to implement the development projects. As a result, despite the Bank’s controversial role in the liberation struggle, the GOB had to accept conditional external assistance to implement the first five-year plan, which was launched in 1973. In the subsequent years, dependence of the country on the mobilisation and influx of foreign funds into Bangladesh for financing not only the development projects but also the import of food items and essential commodities has become more institutionalised.

The role of donor agency in flourishing the economy of developing countries like Bangladesh

There is no denying the fact that embryonic countries constantly demonstrate a predisposition to bring in the policy pronouncement of highly developed countries in their delicate resources despite the shifting of overall socio-economic procedure virtually. In bona fide world state of affairs aspects that next to influence the strategy decisions of budding countries are found fictional in progressive countries. It is evident that reserve constraints and technical non-progressive phenomena are two focal setting that formulate the budding countries reliant upon the advanced countries. The highly developed countries make available financial assistance for the economic development of the developing countries through unusual multilateral and bilateral donor agencies, which are officially termed as ‘Development Partner’

 

The ‘Development Partner’ all the way through their lending tricks play a vital role in the policy-making method of developing countries. The intact process is now more evident in an interestingly univocal world order that materialize after the collapse of communism as a governing and economic system in the 1980s. The international financial agencies more than ever the World Bank and International Monetary Fund as policy shift pursued a free-market-based world order where the developing countries were urged, cajoled and hard-pressed to initiate market economy through structural modification reforms.

As a result, over the last one-decade developing countries have made changes in their state oriented development strategy mostly in line with the policy advice of the Development Partners.

Development Partners. tend to justify their role in policy decisions of recipient countries that aids are given from the taxpayers’ money of the advanced countries who preserve the right to know whether money is being utilized in proper ways. Despite continued financial assistance by the Development partners a vast majority of world population in the recipient countries live under the poverty line and unable to meet their basic needs. Increasingly Development partners are becoming concerned with the aid effectiveness and often attribute the underdevelopment of third world countries to their inappropriate internal policies. Although the failure of IMF’s policy advice in managing the financial crisis in East Asia has given rise counter argument that the economic crisis afflicting the developing countries was fundamentally global in nature

The World Bank in its policy research report, “Assessing Aid, What works, What doesn’t, and Why” has laid emphasis on the internal policies of the recipient countries as important factors to make aid effective. In different international forums including the Aid Consortium Meeting that held under the auspices of the World Bank, the Development partners review the policy issues of the recipient countries with top priority; and before making any aid commitment want to make it sure that appropriate policy environment is prevailing in the recipient countries.

Among the Development partners the World Bank (WORLD BANK) is the most important whose confessional financial assistance has allowed it enormous access in the policy making process of developing countries which we can see with particular reference to Bangladesh.

 

The WORLD BANK has been working in Bangladesh since 1972, soon after the Independence. Robert D. McNamara was the First WORLD BANK president visited Bangladesh in the year 1972 to assess the aid requirement of the war devastated country. The then highly nationalistic government that led to the liberation of the country from occupying Pakistani forces was very much critical about the Bank’s close allies with the Pakistani regime. The dispute that emerged between the Bank and GOB was the issue of the Bangladesh’s share of debt liability. GOB declined to take the responsibility of debts taken by the erstwhile Pakistan government from different bilateral and multilateral donor agencies/countries. In the First Aid Consortium meeting of donor countries, which was held in Dhaka in March 1973, the Bank exerted pressure upon the government to come to a solution on the debt issue. After long parley the then government had accepted an inherited debt liability of $483 million against the projects, completed before independence and physically located in the territory of the erstwhile East Pakistan. The process through which Bangladesh resolved it’s past debt liability was viewed as highly instructive and mentioned as a glaring example of the Bank’s pressure on Bangladesh. But dependence upon the external aid left very little option for the government of the newly independent country to reject the Bank’s conditional lending offer. Domestic resources that were available to the economy found inadequate to implement the development projects. As a result, despite the Bank’s controversial role in the liberation struggle, the GOB had to accept conditional external assistance to implement the first five-year plan, which was launched in 1973. In the subsequent years, dependence of the country on the mobilisation and influx of foreign funds into Bangladesh for financing not only the development projects but also the import of food items and essential commodities, has become more institutionalised.

 

 

The WORLD BANK as an important single source of aid to Bangladesh co-ordinate the Aid Consortium for Bangladesh. The creation of the Bangladesh Aid Consortium has institutionalised the leadership of the World Bank. The resident mission of the WORLD BANK, which is the largest in Bangladesh, conducts detailed research on different aspects of Bangladesh’s economy. Since 1972 the Bank’s concessional lending arm, the International Development Association (IDA), has financed more than 167 operations with loans of about $8.2 billion. Till September 1998, Bank loans of more than $2.05 billion fund 21 projects in Bangladesh (The World Bank, 1998). Initially the Bank’s approach was more humanitarian; and, the Bank worked closely with others to revive the war-torn country’s economy. Early projects financed by the Bank were cyclone shelters built in the coastal areas of the country. In the early years, the Bank supported efforts to expand agricultural production, which have helped Bangladesh achieve a self-sufficient food supply, and to develop population and family planning programs that have dramatically lowered the high fertility rates. From the mid-1980s, the Bank expanded support for more energy projects and helped to reduce the country’s dependence on imported energy. Since early 1990s the Bank and other Development partners by keeping pace with the global change pushed the government for allowing more private sector participation in the public sector management and diverted the aid flow for the social sectors like health and education, which have direct impact on poverty alleviation.

 

Environment Pollution

There is no denying the fact that the world we live in is the most attractive place with striking landscapes and features, wild and domesticated animals, and a variety of odoriferous flowers, evergreen trees and the most wonderful creation of the Lord- the human beings. The world has been created for the human beings so that they would applause the Lord for his power and preserves these natural beauties with undiminished care. But ever since, the world began; man has been doing the opposite thing bit by bit. He has been making progress in science and industry; great deals of landscape and wild life are being abolished day by day. Over population in small areas has given birth to traffic jam and poverty, which destroys the people. Trees have been cut down to make way for construction of modern buildings. Waste disposal is discarded on land and water, which spread mosquitoes. Mosquitoes enter the household and sit on food and spray dirt on the food from the waste and many more harmful activities for which man has started to destroy the beauty of the world. In clearing forests to create fields for farming and constructing new houses, man destroys the native animals and takes away their sources of food. His domestic animals kill them or man haunts them for meat, ivory or furs. Consequentially, the numbers of those haunted animals are minimized and a few numbers of these animals’ lives are at stake.

Suffice it to say that the contaminations are common phenomena through out the world causing a great crisis against our healthy environment in question. Our environment is greatly being polluted every time due to air and water pollution. Air is mainly being polluted from smokes. When the bricks are burnt, unbounded smokes are created. The compositions of such smoke particles are nicotine, thiophin, Furan, phosgene, sulfur dioxide and pyridine. These particles pollute the air tremendously. The smokes are also created when different vehicles ply over along the streets. For these reasons, all the streets are filled with the smokes that adversely affect the human health conditions. Burning poisonous gases like sulfur dioxide, nitrous oxides, nitric acids and sulfuric acids, again create the smokes. These particles make the air heavy and polluted. In order to construct buildings, dams and embankments, lots of plants and trees are cut down and subsequently these are burnt for bricks for which air is polluted to a great extent. In the winter-based country, the plants and trees are being planted in the artificial manner by storing sun light under some restricted environment. The things, which are being done in the green house, are the increasing of carbon dioxide, which affects the environment adversely. We need to ensure the proper use of carbon dioxide by growing the plants and trees adequately without which congenital atmosphere for our survival on earth would not have been possible. A substance may be a polluted when its habitation in air, water, or soil harms organism in question and as such bacteria and virus carriers such minute living thing can cause contamination in a significant manner. Pollutants harm humans in different ways where in high concentrations they can cause ill health and even death. These sort of pollutants which are horrifying in due sense can spread through food chains spoiling plants and animals and endangering human food supplies like fish, and they can cause dirt and obnoxious smells.

Atmospheric pollution

The principal inception of air contamination are the burning of coal and oil in houses and factories, and in the engines of cars, buses, airplanes and thus smoke assembled by burning contains small particles of dust which are mainly carbon. This dust calumniates the walls of the buildings and settles on the leaves of plants, limiting photosynthesis by cutting out light and limiting materialization by blocking stomata. Smoke contains sulphur dioxide that reacts with water vapour in air forming sulphuric acid causing damages the stonework of buildings, the leaves of plants, and the peoples lungs which vitally important for controlling breathing function. Garden bonfires can also be a source of hazardous pollution. If household rubbish including plastic and polystyrene is added to the fire, its smoke will contain up to 300 times more cancer-producing chemicals than cigarettes smoke, as well as cyanide, lead, dioxin, and other poisonous chemicals. There is no denying the fact that Petrol and diesel engines release fumes containing oxides of nitrogen and lead compounds. Once lead enters the body it cannot be removed by the excretory system. It collects in the body eventually causing damage, especially on the brain.

Mellifluous Pollution

The main source of water pollution is sewage from houses and farms, chemical waste from industry and agriculture, and spilled oil. Sewage can be made harmless but in many countries population growth has overloaded sewage handling works and untreated sewage is released into rivers and sea. Bacteria in water disintegrate sewage, but in lakes and slow-moving rivers this process uses up oxygen so briskly that fish, insects, and tadpoles, are missing. Industrial waste often manifests very venomous, long-lasting pollutants such as composites of cyanide, lead mercury, and mercury, and copper. These chemicals are jeopardous even in small cornucopia, because when they are discharged into streamlet and rivulet, they garner fish and other aquatic creatures. In this way these are amplified through food chains to water birds and sometimes humans.

In many recent farms poultry, cattle, and pigs are possessed in buildings and there is no other land on which to use the fertilizer that they produce. The manure is released into local streams and rivers where it decomposes and reduces oxygen levels in the same way as untreated domestic sewage. Other pollutants attributable to modern farming methods include chemical sprays that kill insect pests and fungi that skirmish crop plants. If these chemicals enter rivers and ponds they can spread through out food chains in the same way as industrial waste.

Dispersion

Radiation such as X-rays and beta and gamma rays can cause various types of cancer, a blood disorder known as leukemia, and damage to the sperms and ova resulting in deformed babies. Natural radiation comes from outer space in the form of cosmic rays, and artificial radiation comes from certain medical and industrial processes. Little if any harm comes from these sources; but there is increasing concern about radiation from the testing of nuclear power to generate electricity will increase. There is always a risk in emitting radiation upon the surface where it is falling. The persons, who are always dealing radiation as routine job and research purpose, they need to be careful about such fission and fusion phenomena. If air is polluted by radiation, environment must be polluted in question and consequently many dreadful diseases may break out.

Meteorological pollution:

There are many ranges of barometric pollution problems currently alarming the earth’s general environment; the problem arises from the acidic gases produced by burning fossil fuels in a different situations. The majority of power stations in industrialized countries burn coal or oil. Both these fuels are polluted with sulphur, which produces sulphur dioxide when it burns. The wind can carry acid rain clouds away from the industrialized centers, causing the pollution to fall on other countries. Besides this, oxides of Nitrogen dioxide are produced when thunderstorm blows or air are heated in furnaces or in vehicle petrol engines. Consequently, these gases dissolve in rainwater to produce acid rain. Due to acid rain, the following adverse effects are observed:

· Limestone buildings and statues are worn away.

· Lakes and rivers are acidified, and the presence of metal ions leached out of the soil damages the gills of the fish and as such the fishes can die.

· The nutrients are leached out of the soil and from leaves. Trees are deprived of these nutrients. Aluminum ions are freed from the clay as Aluminum sulphate and damage the roots of the trees. The tree is unable to draw up water through damaged roots and it dies. Due to depletion of ozone layer, a protective layer of ozone in the stratosphere prevents harmful ultra-violet radiation reaching the earth surface ozone layer remains depleted.

· Chlorofluorocarbons and other halogen compounds are formed due to the depletion of ozone layer, which causes the damage of human beings and plants in question, for which restrictions have been imposed to use such compounds virtually by International agreement.

In view of the above it is evident that if the situation were tolerable to grow worse, preamble to higher levels of ultra-violet radiation could effect more cases of skin cancer in human and cause crops to a great extent. That is to say, in burning chemicals and bricks, poisonous gas emit and as such sulphur dioxide gas, Nitrogen dioxides and carbon monoxide gas are produced in atmospheric layer and consequently, acid rain occurs. This sort of acid rain causes trees to destroy and soil to pollute and poisonous. As a result of creating such dangerous pollutants, our lives are becoming risky and health hazards. Besides this, the problems of green house effects are throughout the world for which we should find out ways and means to solve the impediments, which create health exposure in our every day life. The CFC gas is the product of tremendous effects of greenhouse chattels and as a result, our environment is being polluted creating great health vulnerability in question. The fact is that due to awesome increase of CFC gas and carbon dioxide, ozone layer is consequently licked and the ultra-violet ray from the Ionosphere is in the way to hit the earth directly for which the surface temperature is gradually increasing and the ice is melted and the depth of the sea is also being increased. It is hoped in future that in course of time, the earth will be inundated under water. It has been observed in recent years survey that due to tremendous indiscriminant use of ploy-ethane bags, pollution are occurring to a great extent. In the world, wastage is being observed but these are being recycled in a developed process, which are the consequences of better technology and scientific research. In order to remove such pollution, a better technology and strong recycling process are needed for which new bags are possible to be made. Besides this, we need to be careful about dealing wastage for which prospective and alternative measures are keenly emphasized in a systematic manner. We know that the plants and trees are vitally important in order to make our environments healthy and sophisticated to live peacefully in the world. On the other hand, due to lack of trees, adverse situations prevail in the atmospheric layer like increasing carbon dioxide and dust particles. If this type of gas is increased in the layer, our environment becomes barren and unsuitable for living. We use oxygen in our inhalation and give out carbon dioxide as a general flow of breathing function. Trees give us shadow and fruits for which our survival on earth becomes easy and comfortable. We need trees in order to make our environment free from pollution. Hence, it is widely recognized that due to enormous use of plants and trees, we are always facing the situations of health hazard and for which the government is careful to plant trees in place of the trees cut down. Since the plants and trees are being cut down to a great extent, the amount of lands have been reducing day by day for which the scarcity of cultivable lands are being observed tremendously. As a result of being extinct the forests, the number of animals, birds and other creature living in woodland are being reduced to a great extent. The main weapon to fight against extinction is self-awareness and consciousness. It has to come within everybody that we have to possess the feelings of responsibility and environmentalism, in order to build a better world -a world full of evergreen beauty and spirited animals and for these purpose, the following steps may be taken in due course.

· Following and whaling should be absolutely proscribed

· Deforestation needs to be counteracted

· The use of ivory and furs needs to be declared as a punishable crime imposing an exemplary penalty in question.

· National parks and nature reserves should be created

· The natural habitats of endangered species should be preserved.

If these tactics of measures are accomplished instantaneously, then it may be anticipated an optimistic upshot that a man can see the dawn of a new era in the history of the world, which will be even more eye-catching if we are engrossed to be humiliated with one another by forsaking all sorts of enmity and quarrelsome activities from the social life.

World Economic strategy of IBRD

There is no denying the fact that embryonic countries constantly demonstrate a predisposition to bring in the policy pronouncement of highly developed countries in their delicate resources despite the shifting of overall socio-economic procedure virtually. In bona fide world state of affairs aspects that next to influence the strategy decisions of budding countries are found fictional in progressive countries. It is evident that reserve constraints and technical non-progressive phenomena are two focal setting that formulate the budding countries reliant upon the advanced countries. The highly developed countries make available financial assistance for the economic development of the developing countries through unusual multilateral and bilateral donor agencies, which are officially termed as ‘Development Partner’

 The ‘Development Partner’ all the way through their lending tricks plays a vital role in the policy-making method of developing countries. The intact process is now more evident in an interestingly univocal world order that materialize after the collapse of communism as a governing and economic system in the 1980s. The international financial agencies more than ever the World Bank and International Monetary Fund as policy shift pursued a free-market-based world order where the developing countries were urged, cajoled and hard-pressed to initiate market economy through structural modification reforms.

As a result, over the last one-decade developing countries have made changes in their state oriented development strategy mostly in line with the policy advice of the Development Partners.

Development Partners. tend to justify their role in policy decisions of recipient countries that aids are given from the taxpayers’ money of the advanced countries who preserve the right to know whether money is being utilized in proper ways. Despite continued financial assistance by the Development partners a vast majority of world population in the recipient countries live under the poverty line and unable to meet their basic needs. Increasingly Development partners are becoming concerned with the aid effectiveness and often attribute the underdevelopment of third world countries to their inappropriate internal policies. Although the failure of IMF’s policy advice in managing the financial crisis in East Asia has given rise counter argument that the economic crisis afflicting the developing countries was fundamentally global in nature

 

The World Bank in its policy research report, “Assessing Aid, What works, What doesn’t, and Why” has laid emphasis on the internal policies of the recipient countries as important factors to make aid effective. In different international forums including the Aid Consortium Meeting that held under the auspices of the World Bank, the Development partners review the policy issues of the recipient countries with top priority; and before making any aid commitment want to make it sure that appropriate policy environment is prevailing in the recipient countries.

Among the Development partners the World Bank (WORLD BANK) is the most important whose confessional financial assistance has allowed it enormous access in the policy making process of developing countries which we can see with particular reference to Bangladesh.

 

The World Bank in the form of International Bank for Reconstruction and development has been working in Bangladesh since 1972, soon after the emergence of Bangladesh, its role in different sectors of development of Bangladesh is being geared up on a large scale. Robert Dr. McNamara was the First World Bank president visited Bangladesh in the year 1972 to weigh up the aid necessity of the war shattered country. The then highly nationalistic government that piloted to the emancipation of the country from occupying Pakistani forces was very much critical about the Bank’s close allies with the Pakistani regime. The dispute that emerged between the Bank and GOB was the issue of the Bangladesh’s share of debt liability. At those hyper critical states the then government declined to take the responsibility of debts taken by the erstwhile Pakistan government from different bilateral and multilateral donor agencies. In the First Aid Consortium meeting of donor countries, which was held in Dhaka in March 1973, the Bank exerted pressure upon the government to come to a solution on the debt issue. After long parley the then government had accepted an inherited debt liability of $483 million against the projects, completed before independence and physically located in the territory of the erstwhile East Pakistan. The process through which Bangladesh resolved it’s past debt liability was viewed as highly instructive and mentioned as a glaring example of the Bank’s pressure on Bangladesh. But dependence upon the external aid left very little option for the government of the newly independent country to reject the Bank’s conditional lending offer. Domestic resources that were available to the economy found inadequate to implement the development projects. As a result, despite the Bank’s controversial role in the liberation struggle, the GOB had to accept conditional external assistance to implement the first five-year plan, which was launched in 1973. In the subsequent years, dependence of the country on the mobilization and influx of foreign funds into Bangladesh for financing not only the development projects but also the import of food items and essential commodities has become more institutionalized.

Smoking versus Heart Diseases

There exists an amazing extent of indication that a multiplicity of appalling diseases materialize frequently in smokers than non-smokers and these diseases are: Lung cancer; emphysema causing thinning and weakening of lung tissue; cancer of the mouth, throat, larynx, gullet, bladder, and pancreas; coronary thrombosis causing snarl-up of arteries to the heart; angina pectoris causing pain due to contraction of arteries to the heart; and chronic bronchitis with phlegm. Moreover, Smoking materialize due to delay in healing of stomach ulcers; it trims down the senses of smell and taste; slows down reflexes which causes smokers more prone to accidents; and gives an distasteful smell from the breath, clothes, and homes of smokers. Very contemporary survey exemplifies that smoker’s cause danger to the health of non-smokers. Pregnant women smokers tend to have smaller babies than non-smokers, and their babies are more to be expected to be born dead or die a few days after birth. Besides such tremendously adverse affects, the children of smoking parents have more lung infections in the first years of life than the children of non-smokers.

During one hour in a smoky room, a non-smoker can gasp as much cancer-causing substances as some one smoking 15 filter-tip cigarettes. Infirmity consistent to smoking is very expensive. In U.K., France, Germany, China and USA, it results in the loss of about 60 millions working days a year, treatment costs several hundreds thousands dollar a day, and it causes the death of over a million people a week. However, those who give up smoking greatly trim down their chances of developing diseases. Hence it is obvious that smoking has been halfhearted every times and as such, even in general advertisement to sell their product, the work of publication of product’s brand name and packaging system to point toward the quality of the product has been proscribed.

A heart is the crucial point of human beings and as such, due to cause of blood transmission problems, lots of heart diseases come about. Blood circulation system takes place from the heart and arteries and veins are the carriers of it where as veins carry pure blood and entire circulation system remains in the state of continuous flow of balanced form of humans’ survival as a tentative flow.

Hypertensive heart disease:

It means high pressure. It is the most common disease affecting the heart and blood vessel. When pressure remains high, the heart uses more energy in pumping. Due to the increased effort, the heart muscle thickens and the heart becomes enlarged. It needs more oxygen; untreated high blood pressure can lead to decreased diameter of the arteries and arterioles causing atherosclerosis, strokes, heart attacks and kidney failure.

Heart Attack:

The most common heart problems result from faulty coronary circulation. A heart attack as well as cardiac infection is the death of an area of cardiac tissue because of an interrupted blood supply. This may result from a plaque in the arterial wall. The severity of the attack bedded on how much of the heart tissue is damaged. The heart will lose some of the strength after an attack.

Leukemia

It is a malignant disease; it occurs due to uncontrolled production of immature white blood cells. Cells which lack the genetic ability to reach immaturity anemia and bleeding are commonly seen due to the crowding out of normal bone narrow cells, over production of immature cells, preventing normal production of red blood cells and platelets. In order to protect from leukemia, we should take the following measures:

To take blood under the prescribed prescription of the physicians relevant to the heart diseases

To check heart complicacies, regular physical exercise is virtually important.

The patient of heart casualties should take regular physical exercise.

He should take cholesterol free as well hydrolysis type of foods like fats and oils free foods

Atherosclerosis

It is a process in which fatty things, particularly cholesterol and triglycerides are deposited in the walls of medium sized and large sized arteries. Smooth muscle cells of the arteries accumulate more of the cholesterol, and a plaque can be formed in the blood vessel. This can block the artery and present the blood flow. If this clot becomes dislodged, it can travel to other areas of the body and block the normal flow of the blood. We can prevent this by prohibiting fats and oil type of foods. We can also undertake physical exercise.

stroke:

The most common brain disorder is stroke. The common cause s of stroke is as follows:

Blood clots

Ruptured brain arteries. If such brain disorder takes place, very few people survive.

For Prevention of such state physical disorder, the following precautions need to be adopted virtually:

To lead a tension free life

To undertake regular physical exercise

A balanced food is virtually inevitable.

Coronary Thrombosis:

The build up athermancy makes blood vessel narrower and cuts down the flow of blood. This increases the brisk of blood clots forming. A clot can block a blood vessel and for such hyper critical state of mental affairs, a thrombus is formed and ultimately it tends to heart blockage which emanates severe consequences of death. Suffice it say, such heart blockage is quite responsible for a quarter of deaths around the world. More people in the world’s developed countries’ die each year and even if the affected part of the heart is damaged and sometimes a heart attack is so severe that the heart stops beating altogether, due to such sort of complicacy known as cardiac arrest, the humans can die unless the heart starts beating within a moment.

In view of the above, it is evident that Smoking is tremendously harmful for creating health hazards which has tremendous adverse affects upon overall mental affairs of the humans’ physical state. A man who enjoys sound sleep as well as sound body is really a healthy man. For healthy and tension free life, we need to abandon smoking adversely affecting upon physical and mental virtual health in a systematic manner. A heart is the focal point of human beings and as such, due to cause of blood transmission problems, lots of heart diseases fall out. Blood circulation system takes place from the heart and arteries and veins are the carriers of it where as veins carry pure blood and entire circulation system remains in the state of continuous flow of balanced form of humans’ endurance ideally.

International business divergence

There is no denying the fact that the United Nations Conference on Trade and Development was acknowledged in 1964 as an unwavering member of the General Assembly to buttress global trade, in particular the export trade of just beginning countries to pick up the pace of the economic development programme of those countries. Those countries actually craving to deal with development issues in a specially created body. It is their conviction that their development problems could not be attempted successfully through active worldwide economic institute due to fact that those countries influencing interrelated business activities were dominated by urbanized countries. Its objectives were to help to attain agreement on the stabilisation of commodity prices, investment, trade preferences and compensatory financing programmes. UNCTAD has long been served as a mouthpiece of the world’s poor and has been a central forum for the North- South dialogue. Although in its long existence it has taken up many issues for encouraging the interest of developing countries, but for some reasons it has changed its role considerably. UNCTAD is doing its business facing the reality of present international economic structure. It is very much necessary for the developing countries to fortify and make it resourceful. UNCTAD conferences from 1964 to 1996 make public that the Third World has transformed their situation significantly. In their first conference in 1964 the developing countries banded together to form the Group of 77 as a coalition of the world’s poor to press for concession from the rich. In UNCTAD 6, 1983 the recognition of the importance of the role of the World Bank and the International Monetary Fund (IMF) as multilateral development institution was made. In UNCTAD 8 in 1992 there was a broad consensus on importance of market oriented economic policies and political pluralism as basis for development. Most important decision was the reform and revitalisation of UNCTAD to ensure its continuing relevance on trade and development issues. The issues addressed in the UNCTAD forum have changed over time in response to changing international circumstances. Some of the causes will be described below.

One state one vote ethics of General Assembly gives the Third World nations advantages in the UN forums. Those who are the highest contributors to the UN command only fifteen votes. For that reason the North prefers small forums, usually outside the General Assembly. Indeed, in view of the charter of UN follows the one state one vote principle not weighted voting system like the IMF and the World Bank, so the North states reluctant to the activities of the UN General Assembly which has some influence on UNCTAD.

2) The major powers of the North made it clear that they were only prepared to deal with key economic problems of the South through the Bretton Woods’s institutions and WTO, which were fully under their control. In our country we have optimistic view in the sense that progressively more, thus, the developing countries, especially those with heavy balance burdens, were both nudged and drawn into embrace of these multilateral financial institutions. This is an important reason for which UNCTAD has changed. The Third World nation’s different level of development, different degrees of economic and political affiliation with the North, different colonial familiarity and different discernment of national interests have created diversified attitude towards North. That may also be a reason for change in UNCTAD.

4) The closing stages of cold war, the earth-shattering alteration in East West relations and the end of bloc politics modified the North- South relation, which has impact on UNCTAD activities.

5) In 1980’s the economic growth rate deteriorated in many Third world countries. The prices of the commodities exported by Third World nations fell sharply compared with the prices they had to pay for their imports. The debt burden of many Third World countries reduced their bargaining power. The erosion of their bargaining leverage added to the softening of its militancy and increased reluctance to fight against North. The changing economic climate of the 1980’s affected different countries in different way which created diversity within the Third World countries and affected the role of UNCTAD.

6) UNCTAD was subjected to increasing financial pressure, which affected programmes, performance, staffing morale and independence of the body.

7) The creation of the World Trade Organisation (WTO) has important impact on the change in UNCTAD’s role.

Although UNCTAD’s attitude towards Bretton Woods institutions and WTO has changed, but despite economic and political transformations in the world in the last thirty years, the essence of UNCTAD’s development mission has not changed. Although in recent years little has been achieved through UNCTAD in the area of consultation and negotiation on general economic issues, but negotiations in UNCTAD sometimes provide a starting point for concrete decisions elsewhere, and the organisation continues to play an important role as a forum for the discussion of development issues and a centre for the study of the problems facing developing Countries. The themes addressed by it over the years have include: a) The issue of expanding and diversifying the exports of goods and services of developing countries, which are the main sources of external finance for their development; b) The issue of expanding the export capacity of developing countries by mobilising domestic and external resources, including development assistance and foreign investment; c) Issue of strengthening technical capabilities and promoting appropriate national policies; d) Issue of alleviating the impact of debt on the economies of developing countries and reducing their debt burden’s) Issue of supporting expansion of trade and economic co-operation among developing countries as a beneficial complement to their traditional economic linkages with developed countries and f) issue of special measures in support of the world’s poorest and most vulnerable countries. It may be mentioned here that UNCTAD has become at once a negotiating instrument, a deliberative forum, a generator of new ideas and concepts and a provider of technical assistance. As a result of this multifaceted mandate, UNCTAD was entrusted with a wide spectrum of activities cutting across several dimensions of development.