IMF Pushes World’s Poorest Countries into “Starvation Diet” as Debt Burdens Spiral
IMF Pushes World’s Poorest Countries into “Starvation Diet” as Debt Burdens Spiral
As the IMF and World Bank commence their annual meetings, an Oxfam report shows how their failed policies of austerity will force the world’s poorest countries to cut USD 229 billion in public spending while hemorrhaging billions in debt payments.
The IMF is the modern replacement for colonialism
The IMF is colonialism. Who do you think the largest contributors to the IMF are?
Austerity measures don't work.
Oh they work, but not the way the public is told they work.
Conservatives use austerity measures to get more support for the right wing, especially extremist parties. They know that increasing inequality drives people to vote for the right.
Why would conservatives care about the right in poor African countries?
They force sell offs to western investors.
What's a bigger problem than the IMF? Corruption.
The article itself links to another Oxfam report that details how correctly taxing the wealthy in these poorer countries would provide all of the critical social services that these regions are lacking.
https://policy-practice.oxfam.org/resources/the-middle-east-and-north-africa-gap-prosperity-for-the-rich-austerity-for-the-621549/