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galen · 3041 days ago · link · · parent · post: IMF admits disastrous love affair with the euro and apologises for the immolation of Greece
http://africasacountry.com/2016/07/africas-austerity-apocalypse/What “The Decade of Adjustment” suggests is that unless the Fund has dramatically changed its approach the past couple of months (something their Chief Economist has subsequently questioned), far from backpedalling on austerity, the Fund keeps pushing low-income countries towards policies that prioritize fiscal adjustment, spending cuts and privatization. Their growing acceptance of what critics of structural adjustment programs have been arguing for decades, (that it depresses growth, well-being and employment, particularly in low-income countries) seems to have had minimal impact on their actions.