Members of the civil society and academia are calling for an end to the conditionality in IMF programmes which has continued negative effects especially for marginalised groups. IMF lending policies have repeatedly been castigated for undermining some human rights and development priorities, as well as promoting failed policies of privatisation and austerity.
It reads in part:
“The conditionality review must thus revisit and investigate the impacts of IMF policy lending practice on human rights and inequality in the past two decades. We believe that fighting inequality must be integrated into loan programmes and conditions, which should include regular monitoring of the impacts on inequality of such programmes. Additionally, this review offers an opportunity for the IMF to set out how conditionality can support or undermine the achievement of the Sustainable Development Goals and human rights. Critically, this means designing conditions which do not compromise countries’ ability to achieve adequate levels of public spending, especially in health, education and social protection, but which in fact help them support these spending levels, including through the design of fair tax systems.“
Please find the full letter here.