Oxfam: IMF Should Help Boost Crisis Spending in Developing Countries

Many poor countries are “forced” to scale down their financial crisis response spending sooner than necessary, Oxfam says. The international organization found in a recent survey that several developing countries cut down their education, agriculture, social protection and health spending even as the 2015 deadline of the United Nations Millennium Development Goals approaches. Oxfam says the International Monetary Fund should step up to address this growing trend of budget cuts. IMF, the anti-poverty campaigner notes, should change some of its rules to allow it to give grants, and not loans, to poor countries.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.