This session will assess IFIs’ policies in contexts of crises and conflicts, mainly in the Mena Region, by examining the existing policies and their impact on inequality. It aims also to look into countries with ongoing IMF negotiations, in light of country specific contexts, such as the economic failure in Lebanon and the inability to negotiate, and the case of emergency lending in Egypt. Finally, it will assess IMF policies on a regional level as they relate to the effect of the pandemic.
Areas of Engagement
As millions mobilize across the globe to demand urgent action to respond to the climate crisis, it is time to reset our societal relationship with nature. Despite our deep connection with the rest of our living environment, modern (Western) thinking and actions, including policy-making, treat humans and the rest of nature as two separate and independent spheres. But global warming and mass extinction force us to make a drastic change.
After decades of de-regulation and privatisation policies around the world, private actors are playing increasing role in many sectors, from education and health, to water, food and housing.
The session will take place on Monday 28th of September at 8am (EDT) / 2pm (CET).
As the Covid-19 pandemic has exacerbated existing debt vulnerabilities and triggered a new debt crisis. Despite the urgency of the situation, the multilateral response has been insufficient and many challenges remain unaddressed. The session will discuss policy alternatives to address the debt problem in developing countries.
The Covid-19 pandemic has revealed to the world the central role of health in national and international policymaking. It has also cleared the ground from persisting market-driven ideologies in the way health is promoted and managed, consistently affirming one important and well-known reality, common to all nations on the planet: health is a governments’ strategic task that must be pursued in the public interest with responsibility and respect for its implications on society. Health and healthcare cannot be provided resorting to an extractive logic.
The Spotlight Report 2020 unpacks various features and amplifiers of the COVID-19 emergency and its inter-linkages with other crises. The report points out that even before COVID-19, many countries – especially in the global South - were in an economic crisis, characterized by contractionary fiscal policy, growing debt and austerity measures that made these countries more vulnerable to future crises. They are results of a dysfunctional system that puts corporate profit above the rights and well-being of people and planet.
In Recipe for disaster: The IMF and World Bank's role in the financialisation of food and agriculture, written for the Bretton Woods Project Spring Observer 2020, SID's policy researcher, Flora Sonkin, discusses how the process of financialisation has profoundly affecter food systems in recent decades, as financial actors and markets
630 civil society groups sound alarm over wave of Covid-19 claims in 'corporate courts'
Groups in more than 90 countries warn ISDS system could be used to claim billions from governments over pandemic protections
The common goods' point of view seems to be a particularly useful and profitable one for understanding the crisis of the pandemic, both on the health and on the economic and social aspect. It would also, and above all, enable the definition of the answers to get out of this crisis, identifying the forms of a new economic and social model.
Feminist organizations and activists have been very dynamic reacting to the COVID-19 pandemic and providing their own analysis through gender and intersectional perspectives, as well as shedding light on the inequalities impacting women and LGBTQA+ people during the on-going health crisis.