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IMF policies worsened situation
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PROFESSORS from three leading British universities say International Monetary Fund policies favoring international debt repayment over social spending contributed to the Ebola crisis by hampering health care in the West African countries.
Conditions for loans from the IMF prevented an effective response to the outbreak that has killed nearly 8,000 people, the academics allege in a report in The Lancet Global Health journal.
The IMF denied the charges and quoted World Bank data to support its argument that its programs contributed to “significantly improved” health outcomes in Guinea, Sierra Leone and Liberia. The multilateral finance agency provided US$430 million to fight Ebola in West Africa.
“The IMF aims to become part of the solution to the crisis ... Yet, could it be that the IMF had contributed to the circumstances that enabled the crisis to arise in the first place?” asks the study, whose lead author is Cambridge University sociologist Alexander Kentikelenis. Co-authors are Lawrence King of Cambridge, Martin McKee of the London School of Hygiene and Tropical Medicine and David Stuckler of Oxford University.
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