Dhaka, June 27 -- Civil society organizations on Thursday demanded immediate and unconditional cancellation of illegitimate loans ahead of the 4th International Conference on Financing for Development (FfD4), scheduled to be held in Seville, Spain from June 30 to July 3.

At a human chain titled "Not Debt Repayment, We Demand Justice: Cancel the Debt, Change the System" held in front of the National Press Club, speakers raised concerns over unfair taxation, illicit financial flows, money laundering, and the rising debt burden.

They said Bangladesh has implemented unfair tax reforms to meet conditions set by the IMF and other international financial institutions, which have directly impacted ordinary citizens.

They noted a 33% rise in Ba...