Centre for Policy Dialogue (CPD) Distinguished Fellow Dr Debapriya Bhattacharya has expressed concern over the rise of inequalities in countries where International Monetary Fund (IMF) conditions were implemented.
“We noticed that when IMF conditions were enforced in certain countries, disparities worsened in those nations as IMF sought to cement its authority,” the economist said while presenting at a programme in Dhaka on Monday.
He urged the government to be more sensitive while implementing the IMF conditions. Also asked to take action to guarantee that the IMF's requirements be met while preventing additional pressure on the underprivileged and national industry growth.
During his presentation titled “How to reflect the concerns of the disadvantaged groups in the upcoming national budget during the IMF programme period?”, Dr Debapriya recommended ensuring incremental resource allocation in a targeted fashion taking cognisance of the priorities of the disadvantaged population groups.
He also recommended ensuring disaggregated data (for the disadvantaged groups) to make the budget allocations and delivery visible for transparency and accountability.
Implement IMF programme-stipulated reforms and policy steps by taking the inequality concerns into cognisance and in consultation with disadvantaged populations. And introduce participatory result-based management by involving the intended beneficiaries, the economist added.
According to Debapriya, the administration must speak with people in related fields in order to follow IMF requirements. If not, there might be more inequity across the country.
In addition, he asserted that the government did not go far enough to protect the underprivileged despite high inflation.