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Faced with Crushing Debts, World’s Poorest Nations to Slash Public Spending by Over 229 Billion Dollars

October 9, 2023
IPS - Inter Press Service

The World Bank and the International Monetary Fund (IMF) are returning to Africa, for the first time in decades, with the “same old failed message”.

“Cut your spending, sack public service workers, and pay your debts– despite the huge human costs,” says Oxfam International’s interim Executive Director Amitabh Behar, following the release of new Oxfam report.

“They must show they can genuinely change to reverse the tide of widening inequality within and between countries,” he said.