13 March 2014

Africa: IMF Fiscal Policy and Income Inequality Paper

press release

http://www.imf.org/external/pubs/ft/survey/so/2014/POL031314A.htm

Oxfam spokesperson Nicolas Mombrial said:

"This is the final judgment on inequality being bad for growth."

"The IMF says it does not endorse particular policies for redistribution, but their evidence is clear: The solutions to fighting inequality are investing in health care and education, and progressive taxation."

"Austerity policies do the opposite, they worsen inequality."

"It's concerning that the IMF does not identify corporate tax dodging as a driver of inequality. For growth to be sustained it must be shared more equally, and companies must pay their fair share."

"We hope this signals a long term change in IMF policy advice to countries - to invest in health and education and more progressive fiscal policies."

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