IMF actions worsen Ebola crisis

Jerome Duval writes that IMF actions worsen Ebola crisis.

Obviously, this claim should be extended to all poor countries, misnamed as “developing”, where 85% of the world’s population lives. Their public debt (about $1.8 trillion) represents only 1% of global debt. Relief will not affect the global economic balance; the only thing needed is the political will.

It is good to raise the fiscal deficit when the health and lives of people are in danger.

It is not we who say this, but contradicting the usual conservative ideology of the IMF, its director Christine Lagarde said it and acknowledged that the IMF does not say it often.

But we should not have to wait for great humanitarian crises such as that caused by Ebola for people to see the clear need to increase the deficit in order to fund social services. Also, international law requires that compliance with basic human need is a priority compared to the bleeding of resources to pay the debt.

The IMF, which inhumanely ignores serious human needs, must disappear; those responsible for its decisions should be brought to justice for their actions. The devastating IMF policies have damaged too many people through neoliberal debt programs to be allowed to continue with impunity.

Emphasis Mine

The IMF is not the problem. It is merely an institution that implements the policies of the Capitalists.

Abolishing the IMF will not solve the problem: but its abolition will weaken the Capitalists’ ability to implement their policies.

At this time is history, blunting the harshness of Capitalism as SYRIZA is doing in Greece is the best we can hope for. At least, until the working class awakens to its historic mission to bury Capitalism once and for all.