The human rights impact of international financial institutions in the Euro-Mediterranean region: a joint position paper

October 13, 2023
Share on

On the occasion of the Annual Meetings of the World Bank and International Monetary Fund (IMF) in Marrakech, EuroMed Rights’ Economic, Social and Cultural Rights Working Group publishes a joint position paper stressing the key issues of the IMF engagement in the Euro-Mediterranean region.

International financial institutions urgently need extensive reform to adapt to today’s realities, and human rights must play a central role in such reform, says civil society from the Euro-Mediterranean region. Policy making by institutions like the IMF lacks civil society voices and attention to the human rights impact transpiring from its actions and conditions imposed on borrowing countries. Furthermore, many policies ordered by the IMF in times of crisis, that are part of the conditionalities in loan agreements, have been documented as being detrimental to socio-economic human rights.