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The new global economy: Ending the austerity pandemic

The world is confronting multiple compounding crises, from Covid-19, energy, inflation, debt and climate shocks to unaffordable living costs and political instability. The need for ambitious action cannot be greater. However, the return of failed policies such as austerity, now called “fiscal restraint” or “fiscal consolidation”, and a lack of effective taxation and debt-reduction initiatives threaten to exacerbate the macroeconomic instability and daily hardships that billions of people are facing. Unless policymakers change course, an “austerity pandemic” will make global economic recovery even more difficult. ....

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Ending the austerity pandemic

By Isabel Ortiz and Matthew Cummins ....

Equatorial Guinea , South Africa , Matthew Cummins , Isabel Ortiz , United Nations Development Programme , World Bank , Global Social Justice Programme , Initiative For Policy Dialogue At Columbia University , United Nations , Asian Development Bank , International Labour Organisation , Un Sustainable Development Goals , Policy Dialogue , Columbia University , Asian Development , Project Syndicate ,

The New Humanitarian | What about debt cancellation to help prevent future pandemics?

What about debt cancellation to help prevent future pandemics? - The New Humanitarian puts quality, independent journalism at the service of the millions of people affected by humanitarian crises around the world ....

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Democrats look to establish green bank for clean energy projects

Democrats are returning to an idea from the New Deal era intended to rapidly construct the green infrastructure needed for the energy transition: a green domestic development bank, which proponents say would unleash publi ....

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Global Austerity Alert: Looming Budget Cuts in 2021-25 and Alternatives

Global Austerity Alert: Looming Budget Cuts in 2021-25 and Alternatives
5 May
by
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
Rather than exploring financing options to provide direly-needed support for socio-economic recovery, many governments advised by the IMF, the G20 and others are opting for austerity.
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. ....

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