“Instead of taking on the role of mediator – and falling victim to both-sides-ism in the process – Biden is standing unequivocally with workers who have been denied a share in the prosperity of the Big Three automakers.”
That's the conclusion of a Human Rights Watch reportMonday that looks at 39 loans approved in 38 countries between the beginning of the Covid-19 lockdowns in March 2020 and March 2023. While, at the start of the pandemic, IMF managing director Kristalina Georgieva spoke of investing in a recovery that was "greener, smarter, and fairer," the majority of the loans reviewed by HRW still included requirements like lower government spending or higher regressive taxes.
While HRW acknowledged that eliminating fossil fuel subsidies is a necessary part of the transition to renewable energy, this needs to be done in a way that takes the needs of the poorest into account. For example, Saadoun"The impact of the economic crisis there meant her earnings were essentially cut in half. On top of that, in an effort to reduce public spending, the government cut subsidies for electricity," she said.
HRW argues that both the IMF and the governments they loan to have an obligation to address economic crises in ways that further, rather than retrench on, human rights. At the same time, the IMF's austerity measures fail at its own goal of reducing debt. Its April 2023 World Economic OutlookThe report looked at the case of Jordan, which has received IMF loans since 2012, yet has a higher debt-to-gross-domestic-product ratio than at the beginning.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hunter Biden investigation: Joe Biden met with Mexican business partners amid son's pursuit of dealsHunter Biden appeared to receive help from his father on several occasions as he pursued business deals in Mexico during the last few years of Joe Biden’s vice presidency.
Read more »
4 new millionaires, but no jackpot winner after Saturday's Powerball drawingThe last time someone hit the Powerball jackpot was back in July, when one very lucky lottery player won $1.08 billion.
Read more »
4 new millionaires, but no jackpot winner after Saturday's Powerball drawingThe last time someone hit the Powerball jackpot was back in July, when one very lucky lottery player won $1.08 billion.
Read more »
4 new millionaires, but no jackpot winner after Saturday's Powerball drawingThe last time someone hit the Powerball jackpot was back in July, when one very lucky lottery player won $1.08 billion.
Read more »
Hunter Biden sues Rudy Giuliani over infamous laptopHunter Biden sued former Trump lawyer Rudy Giuliani and another attorney over alleged violations of computer fraud and data access related to a laptop computer Biden is said to have left at a Delaware repair shop. Biden, the son of President Joe Biden, has for several years been the target of attacks by Giuliani and other right-wing figures over the…
Read more »
US Supreme Court extends pause on order curbing Biden social media contacts By ReutersUS Supreme Court extends pause on order curbing Biden social media contacts
Read more »