ISTANBUL — Turkish police on Monday arrested up to 50 students protesting against the International Monetary Fund (IMF) and the World Bank amid major anti-globalisation demonstrations in the United States.

The arrests came as thousands of people gathered in Washington for the second day of protests to prevent world financial leaders accessing meetings at the fund's and bank's buildings.

The protesters say the institutions' policies hurt the poor and destroy the environment.

In Turkey's commercial capital Istanbul, dozens of students gathered outside university buildings chanting slogans such as, "No To The IMF" and "No To Private Education," witnesses said.

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Police in riot gear broke up the demonstration and took some 50 protesters into custody following a brief scuffle, they said. Others fled the scene into narrow streets.

A second group later gathered at another university and burned a U.S. flag, shouting "No To U.S.-style Privatisation."

Police stayed outside that university and did not intervene. The demonstrators later dispersed peacefully.

The Turkish government is implementing a three-year $4 billion dollar IMF-backed programme to slash inflation and make key structural reforms. The World Bank is scheduled to discuss a $750 million economic loan package with Turkey in support of the IMF programme.

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