The International Monetary Fund's current surcharge policy exemplifies how the powerful financial institution puts 'itself before people and the planet,' said Luiz Vieira, director of the Bretton Woods Project.
The coalition proceeded to slam IMF Managing Director Kristalina Georgieva for failing to respond to an August 26in which nine U.N. special rapporteurs and independent human rights experts expressed concerns about"the impact of the surcharge policy on the enjoyment of the human rights in affected countries" and asked the powerful financial institution to:
Indicate whether any human rights due diligence or impact assessments, including gender analysis, were carried out to review the policy on surcharges to identify, prevent, mitigate, and account for adverse human rights impact on countries that are restructuring their debt under the Common Framework. Describe to what extent the Fund has considered the impact of the surcharge policy on the ability of countries to mobilize fiscal resources for the realization of economic, social, and cultural rights and other international human rights obligations as Article 15 of the U.N. Guiding Principles on Human Rights Impact Assessment of Economic Reforms underlines.
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