Economic policies imposed by the IMF in exchange of new loans or the rescheduling of old loans.
Structural Adjustments policies were enforced in the early 1980 to qualify countries for new loans or for debt rescheduling by the IMF and the World Bank. The requested kind of adjustment aims at ensuring that the country can again service its external debt. Structural adjustment usually combines the following elements : devaluation of the national currency (in order to bring down the prices of exported goods and attract strong currencies), rise in interest rates (in order to attract international capital), reduction of public expenditure (’streamlining’ of public services staff, reduction of budgets devoted to education and the health sector, etc.), massive privatisations, reduction of public subsidies to some companies or products, freezing of salaries (to avoid inflation as a consequence of deflation). These SAPs have not only substantially contributed to higher and higher levels of indebtedness in the affected countries ; they have simultaneously led to higher prices (because of a high VAT rate and of the free market prices) and to a dramatic fall in the income of local populations (as a consequence of rising unemployment and of the dismantling of public services, among other factors).
The accomplices to austerity are also responsible for human rights violations
21 November 2019 - by Juan Pablo Bohoslavsky
Can’t Pay, Won’t Pay
24 October 2019 - by Jerome Roos, George Souvlis
Financial institutions complicit in impact of austerity measures on human rights, says UN expert
10 September 2019 - by Juan Pablo Bohoslavsky
A profits recession?
22 July 2019 - by Michael Roberts
A critical review of the critical reviews of the book ’Adults in the Room’ by Yanis Varoufakis
12 February 2019 - by Eric Toussaint
The Greek people are tax hostages to the Troika and the bankers
15 January 2019 - by Louv Coukoutsi
Facing the left-wing challenge in the European Union
22 November 2018 - by Eric Toussaint
Forced marriage between Argentina and the IMF turns into a fiasco
9 November 2018 - by Jérôme Duval
Argentina in turmoil
24 October 2018 - by Jérôme Duval
The IMF and World Bank: Aiding and abetting inequality in Asia
10 October 2018 - by Asian Peoples’ Movement on Debt and Development
Greece exits loan programme as impacts of Troika-led austerity are revealed
9 October 2018 - by Bretton Woods Project
New study shows effects of austerity on health in Greece
22 August 2018 - by Global Burden of Disease 2016 Greece Collaborators
The political cost of IMF programmes
17 August 2018 - by Bretton Woods Project
Debts and feminisms: an overview of the book project – first chapter
13 August 2018 - by Camille Bruneau
Greece still under the yoke of its illegitimate debt
20 July 2018 - by Anouk Renaud
Greece: the so called debt reduction is a sleight of hand
25 June 2018 - by Eric Toussaint, Marie Brette
Armenia’s unfinished revolution
25 May 2018 - by Armen Abagyan
Whether in the South or in the North, women bear the burdens of the debt crisis and structural adjustment policies
23 March 2018 - by Chiara Filoni
Shocking report: Macroeconomic indicators improve but Greece’s society is suffering
9 February 2018 - by Confédération hellénique des cadres, artisans et marchands
Jemna in Tunisia: An inspiring land struggle in North Africa
25 April 2017 - by Hamza Hamouchene
How to apply unpopular austerity policies
22 April 2017 - by Eric Toussaint
Debt audit: An alternative weapon against state capture
20 February 2017 - by Mary Serumaga
Why Greek pension [counter]reforms are not sustainable
30 November 2016 - by Michel Husson
The bleak anniversary of the 3rd Greek memorandum
1 September 2016 - by Anouk Renaud
Open letter to the Egyptian President on the pending agreement with the IMF
30 August 2016 - by Collective
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