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The financial crisis and global health: The International Monetary Fund's (IMF) policy response

机译：金融危机与全球健康：国际货币基金组织（IMF）的政策回应

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In this article, we interrogate the policy response of the International Monetary Fund (IMF) to the global financial crisis, and discuss the likely global health implications, especially in low-income countries. In doing so, we ask if the IMF has meaningfully loosened its fiscal deficit targets in light of the economic challenges posed by the financial crisis and adjusted its macro-economic policy advice to this new reality; or has the rhetoric of counter-cyclical spending failed to translate into additional fiscal space for IMF loan-recipient countries, with negative health consequences To answer these questions, we assess several post-crisis IMF lending agreements with countries requiring financial assistance, and draw upon recent academic studies and civil society reports examining policy conditionalities still being prescribed by the IMF. We also reference recent studies examining the health impacts of these conditionalities. We demonstrate that while the IMF has been somewhat more flexible in its crisis response than in previous episodes of financial upheaval, there has been no meaningful rethinking in the application of dominant neoliberal macro-economic policies. After showing some flexibility in the initial crisis response, the IMF is pushing for excessive contraction in most low and middle-income countries. We conclude that there remains a wide gap between the rhetoric and the reality of the IMF's policy and programming advice, with negative implications for global health.
机译：在本文中，我们询问了国际货币基金组织（IMF）对全球金融危机的政策回应，并讨论了可能对全球健康产生的影响，特别是在低收入国家。在此过程中，我们问国际货币基金组织是否鉴于金融危机带来的经济挑战而有意义地放松了其财政赤字目标，并针对这一新现实调整了其宏观经济政策建议;还是反周期支出的言论未能为IMF贷款接受国带来额外的财政空间，给健康带来负面影响。为了回答这些问题，我们评估了IMF与需要财政援助的国家的几项危机后IMF贷款协议，并借鉴了最近的学术研究和民间社会的报告都在审查货币基金组织仍在规定的政策条件。我们还参考了最近的研究，这些研究检查了这些条件对健康的影响。我们证明，尽管国际货币基金组织在应对危机方面比以前的金融动荡更为灵活，但在运用主导性的新自由主义宏观经济政策方面并未进行有意义的重新思考。在最初的危机应对中表现出一定的灵活性之后，IMF敦促大多数中低收入国家过度收缩。我们得出的结论是，国际货币基金组织的政策和规划建议的言辞与现实之间仍然存在很大差距，这对全球卫生产生了负面影响。

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