Anti-globalisation protesters gathered near Charles Bridge in Prague last night to celebrate what they claimed as a victory after the International Monetary Fund (IMF) and the World Bank ended their annual meeting a day earlier than planned.

The IMF insisted that the decision to close the meeting early, which surprised delegates yesterday afternoon, was not a response to the violent clashes between police and rioters that turned the centre of Prague into a battlefield on Tuesday night.

"The delegates got through their speeches very quickly and there was a consensus decision during the afternoon to end the meeting early. There will still be some people here tomorrow for bilaterals and other meetings but anybody who is not involved in those will probably go home immediately," a spokeswoman told The Irish Times.

Police arrested hundreds of demonstrators during a night of violence that left dozens of police officers and protesters injured, with extensive damage to shops, banks and offices.

The centre of Prague was almost deserted last night as local residents stayed indoors to avoid getting caught up in further disturbances. Both branches of MacDonalds on Wenceslas Square were closed, their windows boarded up after they were smashed by rioters.

Earlier, police surrounded demonstrators who were preparing to march on the conference centre where the IMF meeting was being held and arrested dozens of people they identified as ringleaders. Some demonstrators who were detained by police claimed to have been beaten and sexually harassed but there was little sympathy for the protesters. "This is the first time I can remember when the people have been fully on the side of the police. I can't understand these well-off people coming from abroad and wrecking private property here," one man complained.

In his closing remarks to delegates, the IMF's managing director, Mr Horst Kohler, expressed sympathy for the police officers who were injured in the disturbances, some of whom he planned to visit in hospital yesterday evening.

"We all came to Prague for wide-ranging deliberations on crucial problems facing the global economy. Unfortunately, these days were marred by the violent and destructive behaviour of a few, who are not interested in dialogue and democratic processes," he said.

"I am deeply saddened that the people of this beautiful city have suffered damage and even injury. The authorities have shown admirable composure and restraint under the circumstances. And thanks to their efforts, our meetings have continued. They demonstrated the strongest support of the membership for the mandate and work of the IMF," he said.

Mr Kohler expressed satisfaction at the support he received during the meeting for his efforts to streamline the IMF's activities and make the organisation more open and accountable. But he offered little hope to those, including the Minister for Finance, Mr McCreevy, who want to speed up debt relief for the world's poorest countries.

"I took note of the statements of many governors calling for deeper debt relief. But it is also clear that difficulties remain with the financing of the existing enhanced HIPC Initiative, and that we need to focus on securing additional contributions so that no deserving country is refused assistance as a result of lack of funding for the multilateral institutions, including the IMF. And we must continue our efforts to ensure the appropriate participation of all creditors in the Initiative," he said.