IMF
October 1, 2024
IMF imposing austerity on new Sri Lanka government
The new wave of IMF-imposed austerity measures is now reaching Sri Lanka, and their newly elected center-left government is challenging the usual IMF terms of social welfare cuts, rise in the VAT, and other measures that have the effect of doubling the cost of living and reducing the real wages by half for those that…
July 9, 2024
Kenya’s protests: The violent cost of IMF debt
Recent demonstrations against Kenya’s Finance Bill 2024 were met with deadly repression. At least 39 civilians were killed and hundreds injured by Kenyan police while protesting the proposed 346 billion Kenyan shillings ($2.6 billion) tax increase. This Bill was intended to generate government revenue, a condition of the $2.34 billion International Monetary Fund (IMF) 38-month…