IMF Austerity Demands Sacrifice Public Needs For Investor Returns

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over the course of the virus (from 2020 to 2022), 87 percent of lending came with new demands for austerity.
In May of this year, Ghana unlocked a $3billioncreditfacilityinreturnfora“largeandfrontloadedfiscalconsolidation”—IMFspeakformassiveausterity.InDecember,Egyptgota$3 billion program as well, but the IMF pushed harder for the country to sell stakes in several state-owned companies and shift to a flexible exchange rate. Pakistan late last month liberalized markets, raised taxes, and cut energy subsidies in a bid to unlock another $3 billion in a standby arrangement.

✏️ Examples of that dynamic in action. Money in exchange for austerity and conversion from public to private arrangements. The needs of the people get sacrificed for the needs of the investors.
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