'Tweaking the Fund's mandate will not do the trick,' wrote ProgIntl general coordinator davidrkadler. 'Only strong mechanisms of accountability—changing both who decides and how—can end the Fund's impunity.'
to promote"financial stability" and"strong economies" in ways that are consistent with what Georgieva called the institution's"new spirit of solidarity," Adler stressed that"it is now or never."
He proceeded to catalog how, despite Georgieva's pledge to do better, the IMF has continued to destabilize and weaken economies around the globe over the past two years, with especially"Of the 85 countries that received pandemic support from the IMF, 73 of them have been forced to undertake austerity measures in the name of 'fiscal consolidation," Adler noted.
Jayati Ghosh, professor of economics at the University of Massachusetts Amherst and member of its heterodox Political Economy Research Institute, praised Adler's essay, emphasizing that"the current IMF strategy is not only unjust and inadequate, it spells disaster for the world economy and for the planet."
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