'IMF should do away with austerity measures'

'IMF should do away with austerity measures'

By Daniel Itai

Civic Rights lobby group, Section 27 has stomped its heels into the ground against the International Monetary Fund (IMF)’s austerity measures.

Section 27 is amongst the 500 signatories across the globe which have since penned a letter to the IMF pertaining to the austerity measures.

“We are calling for this neoliberal agenda to stop because it creates inequality and unemployment.

These austerity measures do more harm than good because countries cannot grow their economies if they have a noose on their necks.

We know that the current COVID-19 IMF loans don’t have austerity measures attached to them but the fact that many countries are approaching the IMF might change this.

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However, we need the IMF to do away with these austerity measures because they limit economic growth and perpetuate unemployment and inequality,” said Daniel McLaren, Section 27’s budget analyst.