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Harmful conditions increasingly attached to IMF loans, according to new research

2 April 2014Eurodad report shows how IMF lending often makes crisis countries’ situations worseAs the International Monetary Fund (IMF) prepares for its Spring meetings, new research reveals that the number of conditions it attaches to its loans are rising – and they continue to be linked to harsh austerity measures and interfere in sensitive policy areas.  Conditionally Yours: An analysis of the policy conditions attached to IMF loans is the latest in a series of reports on the ...

blog
Cyprus – the next chapter of dysfunctional EU debt crisis management

Konstantinos Todoulos

28 Mar 2013 11:04:25

By Costas Todoulos and Bodo Ellmers  After more than a week of messy negotiations, the Troika (made up of the European Union, the International Monetary Fund and the European Central Bank) and the government of Cyprus agreed on a bailout package for Cyprus on 24 March. Cyprus is set to receive a €10 billion loan, on the condition that it shrinks its financial sector and implements austerity policies. Private bank deposits above €100,000 will be taxed at 40% in order to raise the additional €5.8 billion needed to stabilise the country’s de facto bankrupt banks. Euro banking crisis chapter four   Cyprus has become the fourth European nation to fall victim to a banking crisis that was caused by irresponsible lending and lax financial regulation – following on the heels of ...
A first reading of the press statements and overview paper from the IMF’s review of conditionality, completed in September 2012 might give the impression that the IMF has made a 180 degree turn in its conditionality policy, one of the most controversial ...
IMF recognition that it has dramatically underestimated the impacts of austerity policies strengthened calls for reform of IMF conditionality, and the World Bank’s jobs report undermined its own Doing Business rankings, but the IMF/World Bank annual ...

press
Campaigners in Toyko call for end of harmful tax policies

Tokyo, Japan, October 12, 2012 As the IMF and World Bank pursue implementation of tax policies in developing countries, members of Civil Society worry that these powerful institutions are putting the interests of international investors above those of the democratic governments of developing countries. Of particular concern is the World Bank’s influential “Doing Business” ranking which many development experts find particularly damaging. “The rankings are based upon criteria that might ...