Archives February 2019

The International Monetary Fund: Human Rights are not my Business?

By Mustapha Hadji The 1980s debt crisis opened the door for IMF to directly interfere in the fiscal and monetary policies of borrowing countries. The Structural Adjustment Programs (SAPs) have impacted the lives and livelihoods of third world citizens for decades.[1] Reducing public spending was the “magical recipe” prescribed by IMF to crisis-wracked countries to get out of the debt spiral. Cutting public spending meant little to no money for social programs, public education, public health services and many other programs and services that create safety nets for vulnerable social segments of those countries.