Does IMF Fiscal Policy Advice End Up Hurting the Poor?

ECONOMIC FORUMS AND INTERNATIONAL SEMINARS

Tuesday, April 29, 2003, 2:30 p.m.–4:00 p.m.
IMF Auditorium (Enter via the IMF Center)
720 19th St. N.W., Washington, DC 

Transcript of the proceedings

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Many critics argue that the IMF's advice on fiscal policy reduces growth and increases poverty in developing countries. In the effort to address unmanageable budget deficits, critics claim the IMF advises countries to make substantial cuts in public spending. Critics say that far from cushioning the impact of crises on the poor, these cuts worsen the slowdown and make it more difficult for the poor to find jobs. But what exactly is the nature of IMF fiscal policy advice? Is there a one-size-fits-all fiscal policy in IMF programs? The following panelists will address these and related criticisms of IMF fiscal policy advice:

Richard Hemming [Moderator]
Assistant Director
Fiscal Affairs Department
IMF

William Cline
Senior Fellow
Institute for International Economics

Sanjeev Gupta
Assistant Director
Fiscal Affairs Department
IMF

Carol Graham
Vice President, Government Studies
Brookings Institution