Intl. trade union reports call for IMF & World Bank reforms to re-build better from COVID-19
"Reform the IMF and World Bank to re-build better from COVID-19", 21 May 2020
To build a stronger and resilient world from the economic, health and social devastation of COVID-19 and the crises of inequality and climate change which preceded it, the World Bank and International Monetary Fund must move beyond structural reforms driven by market fundamentalism. Two new reports catalogue decades of failed policies that weakened the social contract and left countries vulnerable to the pandemic and economic crisis...
Left unchecked, the ravages of the current crisis will compound three decades of lost progress on development...
"Multilateralism will need reform to ensure global coordination for economic recovery plans that deliver global social protection funds for poorer countries, realigns debt relief with conditionality for SDGs, provides investment not austerity, rebalance trade rules with fundamental labour rights and environmental standards, see a treaty on business and human rights that mandate due diligence and reforms taxation rules to eliminate tax havens. The IMF and World Bank must not be a barrier to the New Social Contract on which recovery must be built,” said Sharan Burrow.