The IMF and Social Protection

Interesting report of the Independent Evaluation Office of the IMF on actions concerning social protection.

Three important points need to be mentioned: first,  the report does not cover what it calls ‘long term poverty reduction measures’ such as health and education; secondly, while questions may arise on whether social protection falls under the mandate of the IMF, the report confirms it is part of macro-economic stability. The IMF should ‘avoid excessive stress on vulnerable people’. Thirdly and most importantly, the IEO points to a possible conflict with the World Bank which has signed a joined statement with the ILO on the universalism of social protection, based on the fact it is a human right. While cooperation with the World Bank has been smooth (contrary to work with the ILO and UNICEF …), this may change if the World Bank moves indeed towards a rights-based approach and universalism.

A full analysis of the report will follow soon

Read the report