IMF/World Bank Annual Meeting Could Serve As Opportunity For Governments To Enhance Commitment To Equity, End Poverty
The Guardian: Could this be the start of the end of world poverty?
Kevin Watkins, chief executive of Save the Children U.K.
“…[A]s governments descend on Bali, Indonesia, this week for the International Monetary Fund/World Bank annual meetings, they once again have an opportunity to get behind an initiative that could transform prospects for global poverty eradication. The World Bank is using this year’s gathering to launch a ‘human capital project.’ … The World Bank and U.N. agencies should relentlessly keep the spotlight on human capital inequalities within countries — and track the pace at which those inequalities are being closed. If governments are serious about the 2030 development goals, they will need to align public spending priorities with a dramatically enhanced commitment to equity. That means investing in health and education systems that reach the poor with decent, quality services, and in the progressive taxation systems needed to underpin those services. Meanwhile, the IMF will need to loosen the fiscal policy straitjackets that accompany its loans and undercut social spending, and also focus on the quality of money spent … None of this will happen without the engagement of campaigners. … [M]ake no mistake, this is a cause worth fighting for” (10/9).