IMF Social Spending Floors and the Covid-19 Pandemic
The 131-page report, “Bandage on a Bullet Wound: IMF Social Spending Floors and the Covid-19 Pandemic,” analyzes loans approved from March 2020, at the start of the Covid-19 pandemic, until March 2023 to 38 countries, with a total population of 1.1 billion, and finds that the vast majority are conditioned on austerity policies, which reduce government spending or increase regressive taxes in ways likely to harm rights. It also finds that recent IMF initiatives, announced at the beginning of the pandemic, to mitigate these impacts such as social spending floors are flawed and ineffective in addressing the harms caused by the policies. The report features a case study of Jordan, where a series of IMF programs have introduced sweeping economic reforms over the past decade, but mitigation measures have been inadequate to address the harm to rights.
This 31-page report documents how the government took only limited steps to improve transparency after Human Rights Watch disclosed in a 2004 report that billions of dollars in oil revenue illegally bypassed the central bank and disappeared without explanation. The report details newly disclosed evidence of corruption and mismanagement and includes recommendations for reversing the pattern.
The Kyrgyz government’s human rights record has steadily deteriorated during the past several years. Human Rights Watch has documented serious rights violations, particularly in the areas of political participation, freedom of assembly, and freedom of expression. Local rights groups in particular have exposed serious violations of fundamental rights.
The Use of Oil Revenue in Angola and Its Impact on Human Rights
More than four billion dollars in state oil revenue disappeared from Angolan government coffers from 1997-2002, roughly equal to the entire sum the government spent on all social programs in the same period. Meanwhile, although the 27-year civil war ended in 2002, an estimated 900,000 Angolans are still internally displaced. Millions more have virtually no access to hospitals or schools.
On April 3, 2000, the International Monetary Fund (IMF) and the Angolan government announced the beginning of a Staff Monitored Program (SMP). This program is an ambitious agreement to implement a wide range of economic and institutional reforms in Angola that could lead to further lending and cooperation with the IMF and World Bank, but it is unclear whether the government will be able to comply with its requirements.
On April 3, 2000, as part of a larger agreement between the International Monetary Fund (IMF) and the government of Angola to reform the economy, the IMF and government reached an agreement to monitor oil revenues that would be supervised by the World Bank.
