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<div class="">Begin forwarded message:</div>
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<span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif; color:rgba(0, 0, 0, 1.0);" class=""><b class="">From:
</b></span><span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif;" class=""><a href="mailto:lara.merling@ituc-csi.org" class="">lara.merling@ituc-csi.org</a> (Merling, Lara)<br class="">
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<span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif; color:rgba(0, 0, 0, 1.0);" class=""><b class="">Subject:
</b></span><span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif;" class=""><b class="">[recovery_human_face] The IMF and inclusive growth: achieving SDG8</b><br class="">
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<span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif; color:rgba(0, 0, 0, 1.0);" class=""><b class="">Date:
</b></span><span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif;" class="">September 3, 2019 at 08:15:40 PDT<br class="">
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Dear friends, <o:p class=""></o:p></div>
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Under the leadership of Christine Lagarde, the IMF endorsed the Sustainable Development Goals (SDGs) and portrayed itself as a champion of inclusive growth. However, little changed in IMF loan agreements, which continued to push the same harmful austerity and
deregulation measures of the past. The next leader of the IMF needs to change the core operations of the institution to promote sustainable economic growth, full employment and decent work.<o:p class=""></o:p></div>
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The IMF has not meaningfully supported the SDGs, and its policies undermine the ability of countries to achieve the 2030 Agenda. To illustrate this point, let’s take a look at SDG 8: “promote sustained, inclusive and sustainable economic growth, full and productive
employment and decent work.”<o:p class=""></o:p></div>
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In a recent report, the International Labour Organization (ILO) shows that the world is not on track to achieve SDG 8 by 2030. For that to change, a major shift in macroeconomic policies is needed.<o:p class=""></o:p></div>
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Orthodox economic policy models, like those promoted by the IMF, focus on supply-side measures and assume that growth will eventually trickle-down. Reality has shown that this is not the case. Furthermore, these models have failed to bring sustained growth
the developing world.<o:p class=""></o:p></div>
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Under the guise of “efficiency” the IMF has worked at odds with a decent work growth agenda, often undermined labour market institutions, pushing for cuts in public wage bills, deregulation and weakening of workers’ rights. This approach, along with sharp
spending cuts, lead to a downwards spiral in which the economy shrinks, unemployment grows, poverty soars, and aggregate demand in the economy collapses. The IMF itself admitted that most loan programmes fail to meet growth targets.<o:p class=""></o:p></div>
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As the ILO points out, an approach that puts decent work at the centre and supports productive investment can create a virtuous cycle of sustained and inclusive growth. The higher earnings for workers increase demand, which in turn boosts economic growth.
The success of this approach can be seen in the case of Portugal, which cast aside the austerity policies of the IMF after exiting a loan. Portugal increased its social protection spending, minimum wages, and investment. These policies not only helped economic
and social recovery but strengthened its finances too – the stated but elusive goal of austerity.<o:p class=""></o:p></div>
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Christine Lagarde understood that the IMF needed to change in order to maintain its credibility. However, new rhetoric without substantive action can only be a viable strategy for so long. There are alternatives to the IMF’s approach which have shown much
greater promise in achieving inclusive growth and bringing the world closer to meeting the goals of the 2030 Agenda. The IMF’s new leader should listen to the ILO and change the macroeconomic policy model that is promoted through policy advice and lending.
This means moving beyond talk about policies that benefit the many toward actually supporting economic policies for inclusive, job-rich growth.<o:p class=""></o:p></div>
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[This post originally appeared on<span class="Apple-converted-space"> </span><a href="https://imfboss.com/2019/08/19/the-imf-and-inclusive-growth-achieving-sdg8/#more-922" style="color: purple; text-decoration: underline;" class="">imfboss.com</a><span class="Apple-converted-space"> </span>on
August 19]<span class="Apple-converted-space"> </span><o:p class=""></o:p></div>
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<span style="font-size: 12pt; font-family: Georgia, serif; color: rgb(102, 102, 102);" class=""><a href="https://imfboss.com/2019/08/19/the-imf-and-inclusive-growth-achieving-sdg8/#more-922" style="color: purple; text-decoration: underline;" class="">The IMF
and inclusive growth: achieving SDG8</a></span><o:p class=""></o:p></p>
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<o:p class=""> </o:p></div>
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<i class="">Lara Merling</i><o:p class=""></o:p></div>
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<i class="">Economic Research Officer, ITUC/Global Unions Washington Office</i><o:p class=""></o:p></div>
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<i class=""><a href="mailto:lara.merling@ituc-csi.org" style="color: purple; text-decoration: underline;" class="">lara.merling@ituc-csi.org</a></i><o:p class=""></o:p></div>
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<i class="">+1 202 974 8120</i><o:p class=""></o:p></div>
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<i class=""><a href="https://www.ituc-csi.org/" style="color: purple; text-decoration: underline;" class="">www.ituc-csi.org</a><span class="Apple-converted-space"> </span>//<span class="Apple-converted-space"> </span><a href="http://www.global-unions.org/?lang=en" style="color: purple; text-decoration: underline;" class="">www.global-unions.org/?lang=en</a></i><o:p class=""></o:p></div>
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<b class=""><span style="color: windowtext;" class="">From:</span></b><span style="color: windowtext;" class=""><span class="Apple-converted-space"> </span><a href="mailto:recoveryhumanface-request@socpro.list.ilo.org" style="color: purple; text-decoration: underline;" class="">recoveryhumanface-request@socpro.list.ilo.org</a><span class="Apple-converted-space"> </span><<a href="mailto:recoveryhumanface-request@socpro.list.ilo.org" style="color: purple; text-decoration: underline;" class="">recoveryhumanface-request@socpro.list.ilo.org</a>><span class="Apple-converted-space"> </span><b class="">On
Behalf Of<span class="Apple-converted-space"> </span></b>Emma Burgisser<br class="">
<b class="">Sent:</b><span class="Apple-converted-space"> </span>Thursday, August 29, 2019 1:22 PM<br class="">
<b class="">To:</b><span class="Apple-converted-space"> </span><a href="mailto:recoveryhumanface@socpro.list.ilo.org" style="color: purple; text-decoration: underline;" class="">recoveryhumanface@socpro.list.ilo.org</a><br class="">
<b class="">Subject:</b><span class="Apple-converted-space"> </span>[recovery_human_face] BWP launches IMF Article IV Scanner<o:p class=""></o:p></span></div>
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<o:p class=""> </o:p></div>
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Dear friends,<o:p class=""></o:p></p>
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*<em class=""><span style="font-family: Calibri, sans-serif;" class="">apologies for cross-posting*</span></em><o:p class=""></o:p></p>
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We are delighted to officially launch the<span class="Apple-converted-space"> </span><a href="https://articleivscanner.imfmonitor.org/" style="color: purple; text-decoration: underline;" class=""><i class=""><span style="color: rgb(5, 99, 193);" class="">Article
IV Scanner</span></i></a>. This tool is designed to enable CSOs, researchers and officials to search IMF Article IV documents (IMF country-level surveillance reports) dating back to the year 2000, for key words and phrases (without having to trawl through
each document individually!), and was made possible thanks to the tireless efforts of our colleague, Ella Hopkins. You can search all countries, or specific particular countries and dates, depending on what you’re looking for. Further instructions can be found on
the website itself.<o:p class=""></o:p></p>
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This tool aims to make IMF surveillance, one of the IMF’s three main activities, more transparent, accessible and open to critical perspectives, especially ahead of its Comprehensive Surveillance Review consultation which is expected to take place in Autumn
of this year. It is kindly hosted by the<span class="Apple-converted-space"> </span><a href="http://www.imfmonitor.org/" style="color: purple; text-decoration: underline;" class=""><span style="font-size: 12pt; color: rgb(5, 99, 193);" class="">IMF Monitor</span></a><span style="font-size: 12pt;" class=""><span class="Apple-converted-space"> </span>website,
which also houses the first freely available, comprehensive and transparent database of IMF conditionality, and more<span class="Apple-converted-space"> </span></span><a href="http://www.imfmonitor.org/imf-surveillance.html" style="color: purple; text-decoration: underline;" class=""><span style="font-size: 12pt; color: rgb(0, 102, 204);" class="">general
information about IMF surveillance</span></a><span style="font-size: 12pt;" class="">.<span class="Apple-converted-space"> </span></span><span style="color: windowtext;" class=""><o:p class=""></o:p></span></p>
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Please do share as widely as you can with your networks and let us know if there are any feedback or questions,<o:p class=""></o:p></p>
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<span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif;" class="">Best,</span><span style="color: windowtext;" class=""><o:p class=""></o:p></span></p>
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<span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif; color: windowtext;" class="">Emma Burgisser<br class="">
Gender Project Manager<br class="">
The Bretton Woods Project<br class="">
<br class="">
33-39 Bowling Green Lane, London UK EC1R 0BJ<br class="">
Tel: +44 (0)20 3122 0723<br class="">
skype: eburgisserbwp<br class="">
email:<span class="Apple-converted-space"> </span></span><a href="mailto:eburgisser@brettonwoodsproject.org" style="color: purple; text-decoration: underline;" class=""><span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif;" class="">eburgisser@brettonwoodsproject.org</span></a><span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif; color: windowtext;" class=""><span class="Apple-converted-space"> </span><br class="">
<br class="">
The Bretton Woods Project: Critical voices on the World Bank and IMF<br class="">
</span><a href="http://www.brettonwoodsproject.org/" style="color: purple; text-decoration: underline;" class=""><span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif;" class="">www.brettonwoodsproject.org,</span></a><span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif; color: windowtext;" class=""><span class="Apple-converted-space"> </span>Follow
us on Twitter: @brettonwoodspr<br class="">
The Bretton Woods Project is an ActionAid-hosted project, UK registered charity No. 274467<br class="">
England and Wales Charity No. 274467, Scottish Charity No. SC045476<o:p class=""></o:p></span></div>
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<span style="color: windowtext;" class="">_____________________</span><span style="font-size: 10pt; font-family: 'Segoe UI', sans-serif; color: windowtext;" class=""><br class="">
<br class="">
</span><span lang="EN-GB" style="font-size: 10pt; color: rgb(51, 51, 51); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">Please share your inputs by e-mailing: </span><span lang="EN-GB" style="font-size: 10pt;" class=""><a href="mailto:recoveryhumanface@socpro.list.ilo.org" target="_blank" style="color: purple; text-decoration: underline;" class=""><span style="color: rgb(51, 122, 183); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">recoveryhumanface@socpro.list.ilo.org</span></a></span><span lang="EN-GB" style="font-size: 10pt; color: rgb(51, 51, 51); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">.
To see earlier messages </span><span lang="EN-GB" style="font-size: 10pt;" class=""><a href="https://urldefense.proofpoint.com/v2/url?u=http-3A__www.recoveryhumanface.org_&d=AwMFAg&c=-dg2m7zWuuDZ0MUcV7Sdqw&r=T63lC49deeX8uMRKw_QRo3PXHbWD4VbV4CgzRL07ISw&m=gViCw5wIW3-nlzqPC_o-YilhUy7NfUNTRKLHeIScAiM&s=inyRP2tarRY2zgkK-rWsMl8jrm9M9v31dVEidBmX-5I&e=" target="_blank" style="color: purple; text-decoration: underline;" class=""><span style="color: rgb(51, 122, 183); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">http://www.recoveryhumanface.org/</span></a></span><span lang="EN-GB" style="font-size: 10pt; color: rgb(51, 51, 51); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">.
This e-discussion is intended to facilitate the exchange of knowledge and ideas; the views expressed by contributors do not reflect the policies of ILO. The discussion is moderated by Isabel Ortiz, contact at </span><span lang="EN-GB" style="font-size: 10pt;" class=""><a href="mailto:isabel.ortiz@ymail.com" style="color: purple; text-decoration: underline;" class="">isabel.ortiz@ymail.com</a><span class="Apple-converted-space"> </span></span><span lang="EN-GB" style="font-size: 10pt; color: rgb(51, 51, 51); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">. </span><span lang="EN-GB" style="font-size: 10pt;" class=""><a href="mailto:sympa@socpro.list.ilo.org?subject=SUBSCRIBE%20recoveryhumanface" target="_blank" style="color: purple; text-decoration: underline;" class=""><span style="color: rgb(51, 122, 183); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">Subscribe</span></a></span><span lang="EN-GB" style="font-size: 10pt; color: rgb(51, 51, 51); background-color: white; background-position: initial initial; background-repeat: initial initial;" class=""> ¦ </span><span lang="EN-GB" style="font-size: 10pt;" class=""><a href="mailto:sympa@socpro.list.ilo.org?subject=UNSUBSCRIBE%20recoveryhumanface" target="_blank" style="color: purple; text-decoration: underline;" class=""><span style="color: rgb(51, 122, 183); background-color: white; background-position: initial initial; background-repeat: initial initial;" class="">Unsubscribe</span></a></span><span style="color: windowtext;" class=""><o:p class=""></o:p></span></div>
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