statement-against-imf-austerity-english-e172bdea20d1cb7f.pdf

This statement, published by the Institute for Economic Justice in 2020, calls on the International Monetary Fund (IMF) to cease promoting austerity measures and instead adopt policies that prioritize gender justice, inequality reduction, and climate resilience in the wake of the COVID-19 pandemic.

• The signatories urge the IMF to stop promoting austerity and instead support policies that prioritize people, the planet, gender justice, and the reduction of inequality.
• Despite public rhetoric regarding a 'fair and green recovery' and the development of frameworks for social spending and gender analysis, the IMF has continued to implement austerity-conditioned loan programs.
• Many of the IMF's emergency financing packages for COVID-19 include language that encourages fiscal consolidation during the recovery phase.
• Austerity driven by fiscal consolidation is argued to worsen poverty and inequality, specifically leading to cuts in education, health, pensions, and social protections, while disproportionately affecting vulnerable populations.
• The document asserts that rapid fiscal consolidation does not guarantee economic recovery or job creation and may actually deepen economic downturns and hinder the transition to climate-resilient economies.
• To achieve a sustainable recovery, the signatories recommend immediate financial support through grants, concessional financing, debt cancellation, restructuring, and a new allocation of Special Drawing Rights.
• Long-term recovery should focus on increasing social spending and implementing progressive tax reforms, such as taxes on wealth and excess corporate profits, while combating illicit financial flows.

APA

Institute for Economic Justice (2020). statement-against-imf-austerity-english-e172bdea20d1cb7f.pdf. https://iej.org.za/wp-content/uploads/2020/10/statement-against-IMF-austerity-English.pdf

Chicago

Institute for Economic Justice. statement-against-imf-austerity-english-e172bdea20d1cb7f.pdf. 2020. https://iej.org.za/wp-content/uploads/2020/10/statement-against-IMF-austerity-English.pdf.

Wikipedia

{{cite press release |author=Institute for Economic Justice |title=statement-against-imf-austerity-english-e172bdea20d1cb7f.pdf |date=2020 |url=https://iej.org.za/wp-content/uploads/2020/10/statement-against-IMF-austerity-English.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{instituteforeconomicjustice2020statementagainstimfausterityenglishe172bdea20d1cb7fpdf, author = {{Institute for Economic Justice}}, title = {{statement-against-imf-austerity-english-e172bdea20d1cb7f.pdf}}, publisher = {Institute for Economic Justice}, year = {2020}, url = {https://iej.org.za/wp-content/uploads/2020/10/statement-against-IMF-austerity-English.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }