Academics and CSOs from 87 countries call for an end to IMF's austerity drive so that countries can undertake fiscal measures for economic recovery

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published Published on Oct 6, 2020   modified Modified on Oct 6, 2020

-Statement by over 500 organisations and academics from 87 countries against IMF's austerity drive, dated 6th October, 2020

More than 500 organisations and academics from 87 countries have issued a statement today calling on the International Monetary Fund (IMF) to stop promoting austerity and instead support policies that advance gender justice, reduce inequality, and put people and planet first.

The IMF has already begun locking some countries into long term austerity-conditioned loans, while encouraging countries to take such recovery measures through its short-term, front loaded emergency financing packages. Such policies will further entrench gender and economic inequality and undermine any chance of an inclusive recovery, especially as many countries in the Global South are expected to need more long-term financing in the near future

The statement comes ahead of the IMF and World Bank Annual Meetings slated to begin next week (12-18 October.)

Please click here to access the statement issued to the IMF, which has collected over 500 signatures from organisations and academics from 87 countries.

For more information, please contact:

Bretton Woods Project, Oxfam, Arab Watch Coalition, Latindadd and Eurodad

Email: [email protected]

Press statement by over 500 organisations and academics from 87 countries against IMF's austerity drive, 6th October, 2020

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