Responses: Wendy Humphrey-Taylor, IDPM Post-graduate Student
IMF poverty reduction strategies assume the disposition that debtor governments are accountable and transparent to their electorate, however many LICs exhibit illiberal development tendencies, and hence the facilitation of poverty reduction is inhibited. Added to which IMFs high-level fiscal lending negates the particularized bottom-up monetary requisite of the proletariat. The establishment of a Grameen-style global and local banking system may prove to be more beneficial to LIC economies bearing in mind that 80 percent of LIC populace is typically agrarian; and the fundamental nature of people is to protect and provide for their family. The success of IMF top-down poverty reduction facilities is dependent on strong low-level socioeconomic foundations; hence without holistic methods of economic delivery the IMFs top-down poverty reduction policies will continue to fail the poor.
This post features the author's personal view and does not represent the views of ODI, DRI or DFID.
Comments
To help generate debate and discussion, we welcome comments on the blog posts from all. The synthesis and final report will focus in particular on comments from civil society, research, academic and private sector organisations in Low Income Countries. Comments may be moderated to ensure the balance of debate.
