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Strauss-Kahn: IMF as Protector of Safety Nets for Poor |
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 A recent article by Christopher Swan of Bloomberg News should attract the attention of GCE members. Given that the IMF has long imposed low inflation and deficit spending targets on developing countries, especially in Sub-Saharan Africa (SSA). Indeed, one of the primary reasons governments cannot hire enough teachers to scale up the education sector and achieve EFA goals is exactly due to these restrictive monetary and fiscal policies which reduce the budget available for public spending on education, including teachers´ salaries.
The IMF is blowing its own horn and garnering some praise, especially from spokespeople with current or recent links to the IMF, for “insisting that countries boost spending on social safety nets as a condition for aid. To secure a $7.6 billion loan, Pakistan in November agreed to triple funding for programs that include cash handouts and electricity subsidies.” These new loan conditions are presented as IMF “focusing on people instead of big investors and multinational companies” without being viewed critically as palliative aid in the midst of structural impoverishment.
Read the article here
Read GCE’s full analysis here |
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