For over four decades, the ascendance of fiscal austerity as a multifaceted political and economic project within the larger ambit of structural adjustment has shaped the economic, political, and social realities of countries and communities across the Global South. In the context of an international financial architecture that provides littleContinue Reading

“Stop the Harm, Reparations Now!” Civil Society Organizations (CSOs) from more than 50 countries, today rallied anew behind the call targeting the International Monetary Fund and the World Bank, in the lead-up to the international financial institutions’ (IFIs) annual meetings in Washington DC. Launching the Global Days of Action againstContinue Reading

For 80 years, the IMF and World Bank have played a key role in the global financial system. However, both institutions have failed to provide resilience and stability to global finance. Their interventions in debt crises have often worsened social and economic inequalities. By focusing on austerity measures, promoting neoliberalContinue Reading