Call on IMF to stop promoting austerity in the Coronavirus recovery period

Over 500 organisations and academics around the world call on IMF to stop promoting austerity in the Coronavirus recovery period.

More than 500 organisations and academics from 87 countries, including the Society for International Development (SID), have issued a statement yesterday 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.)

For more information or an interview with our organisation, or with other spokespeople who have signed the statement, contact Stefano Prato at stefanop@sidint.org