IMF Austerity Cuts Quadrupled Over Past Decade
12 Articles
12 Articles
The cutback targets requested by the Fund from countries with support programs have increased fourfold since 2018, according to the NGO report.
These demands of the IMF were accompanied by "a weakening of the protection of social spending in its lending programs," said Oxfam, the international confederation to combat poverty and inequality. "These cuts undermine essential spending on public services, from health to education to housing, which protect low-income communities" in countries under aid programmes, said Oxfam in a statement. According to Oxfam's analysis, the spending reductio…
Oxfam's analysis shows that the average public spending reduction target required by the International Monetary Fund increased from 0.21% of GDP in 2018 to 0.85% in 2025, recording a fourfold increase in seven years!
The IMF's demands are accompanied by a "weakening of the protection of social spending within the framework of its lending programs," criticizes Oxfam, an international confederation fighting poverty.
The targets for public spending cuts imposed by the International Monetary Fund on countries that secure grants under support programs have been
NGO denounces weakening of protection for social spending and warns of new "shock therapy" in countries resorting to loan programs
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