This report was given by Eric London to the Seventh Congress of the Socialist Equality Party (US) in support of the resolution titled “Build the International Workers Alliance of Rank-and-File Committees! For a global counteroffensive of the working class!”
Map of countries with projected austerity cuts in 2021-2022, in terms of GDP, based on IMF fiscal projections. Credit: I. Ortiz and M. Cummins, 2021
NEW YORK and NAIROBI, Apr 15 2021 (IPS) - Last week Ministers of Finance met virtually at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank to discuss policies to tackle the pandemic and socio-economic recovery.
But a global study just published by the Initiative for Policy Dialogue at Columbia University, international trade unions and civil society organizations, sounds an alert of an emerging austerity shock: Most governments are imposing budget cuts, precisely at a time when their citizens and economies are in greater need of public support.
Global Austerity Alert: Looming Budget Cuts in 2021-25 and Alternatives ipsnews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipsnews.net Daily Mail and Mail on Sunday newspapers.