In July NGOs ActionAid and Eurodad published a review of IFIs’ (International Financial Institutions) approach to taxation. The paper reviews a recent IMF paper and welcomes that for the first time the Fund publishes an official account of their approach to tax policy in developing countries. The review recognizes a ”softening of the IMF’s approach to the equity dimensions of tax”. However, ”it remains to be seen how these policy changes will be built on and translated into changes in practice on the ground”. A remaining concern is the ”IMF’s continued preference for regressive impacts of consumption taxes to be remedied through government spending despite admitting that the IMF has failed to adequately address this in the past.”
Review maintains inadequate and inconsistent approach to economic and gender inequality, as well as climate change.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).