Imagine #FreeEducation you WALK to, because there was money to build schools everywhere, and the same for HEALTH (incl medical) care?

Easy! Just cut #FossilFuel corporations off from the #CorporateWelfare tit.

"Global subsidies for fossil fuels reached $7 trillion in 2022, an all-time high, according to the #IMF. An analysis of policies in 170 countries found that explicit subsidies, such as price caps on fuel, accounted for 18 percent of this total." https://e360.yale.edu/digest/fossil-fuel-subsidies-2022 #FossilFuels

Things are really bad in #Pakistan for the non-rich right now.

I don't have the expertise to lay blame, but it sure looks like the #IMF and forced #austerity are major contributors.

"We are forced to ration the use of our fan. We sleep in one room and we switch off the fridge at night. I don’t have a TV in my house any more.”

Pakistan gets really hot wet bulb temps thanks to #ClimateChange

https://www.aljazeera.com/news/2023/9/8/how-will-i-pay-steep-power-bills-rising-inflation-hit-pakistans-poor

US wants G20 to help reshape, scale up multilateral development banks like IMF & World Bank

> President Biden is scheduled to arrive in New Delhi on Friday to take part in the G20 Summit.

> Biden asked the US Congress last month for additional funds that would have the impact of helping increase World Bank financing by more than USD 25 billion, and the US is working with its partners to see if they can pursue similar contributions.
https://www.firstpost.com/world/us-wants-g20-to-help-reshape-scale-up-multilateral-development-banks-like-imf-world-bank-13089232.html #US #G20 #IMF #WorldBank

IMF, FSB release joint policy recommendations for crypto assets - The policy paper includes recommendations for regulating activiti... - https://cointelegraph.com/news/imf-fsb-release-joint-crypto-policy-recommendations #stablecoins #regulation #crypto #de-fi #imf #fsb

Breaking: IMF And FSB Releases G20 Summit Paper On Crypto Asset Regulation - The International Monetary Fund (IMF) and the Financial Stability Board (FSB) on Thursday... - https://coingape.com/imf-fsb-releases-g20-paper-crypto-asset-regulation/ #24/7cryptocurrencynews #cryptoregulation #regulationnews #fsb #imf

Blanket Crypto Bans Won’t Work, Joint IMF, FSB Paper Warns - The global standard-setters instead suggest targeted restrictions when necessary, and urg... - https://www.coindesk.com/policy/2023/09/07/blanket-crypto-bans-wont-work-joint-imf-fsb-paper-warns/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #policy #news #imf #fsb

Biden will call for 'reshaping' World Bank, IMF at G20 #Biden #WorldBank #IMF #G #socialnewsxyz

https://www.socialnews.xyz/2023/09/05/biden-will-call-for-reshaping-world-bank-imf-at-g20/

Global Standard Setters to Deliver Global Crypto Policy Roadmap - The Financial Stability Board and the International Monetary Fund are set to deliver a pa... - https://www.coindesk.com/policy/2023/09/05/global-standard-setters-to-deliver-global-crypto-policy-roadmap/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #regulations #policy #crypto #news #imf #fsb #g20

#IMF also politely suggests that #German authorities ought to consider modifying the #debtbrake rule. But finance minister Christian #Lindner is itching to draw a line under this kind of expenditure, chart @FT https://tinyurl.com/5n6us7zh

"Decades of mismanagement and instability have hobbled #Pakistan’s economy, and this summer #Islamabad was forced into a deal with the International Monetary Fund (#IMF) to avert default.

However, the global lender demanded that popular #subsidies cushioning living costs be slashed. #Petrol and #electricity prices have rocketed."

#PakistanTraders hold nationwide shutdown over electricity bills, #inflation | Inflation News | Al Jazeera
https://www.aljazeera.com/news/2023/9/2/pakistan-traders-hold-nationwide-shutdown-over-electricity-bills-inflation

@sixtus Davon mal abgesehen, steht etwas Entscheidendes nicht auf der Titelseite: In der Prognose für 2024 ist Deutschland dann mit 1,3 Prozent Wachstum wieder im Mittelfeld. Offenbar wird es also bereits besser. Aber damit verkauft man natürlich keine Hefte. https://www.imf.org/en/Publications/WEO/Issues/2023/07/10/world-economic-outlook-update-july-2023#Projections #IWF #IMF #WorldEconomicOutlook #BIP #Spiegel

https://ituc-africa.org/Press-Statement-Strengthening-Trade-Union-Engagement-to-Tackle-the-Challenges.html

#African #unions push for own solutions to cycle of #SovereignDebt

Several African governments avoid defaults through unpopular, harsh, repressive #austerity measures. Governments set aside unfathomable amounts of public finance to service debts.

#Africa #union #ITUC #FES #ITUCAfrica #AfDB #IMF #WorldBank #privatisation #privatization

Pak braces for civil war as govt seeks IMF help to handle increased public uproar against inflation #Pak #IMF #socialnewsxyz

https://www.socialnews.xyz/2023/08/31/pak-braces-for-civil-war-as-govt-seeks-imf-help-to-handle-increased-public-uproar-against-inflation/

#SriLanka "#SlaveLabour bill" threatens to remove 13 pro-labour laws

"The government and the #IMF have made this situation worse by increasing indirect taxes, removing subsidies for working people and promoting harmful #privatisation, without a political mandate. As a result, more than half of all Sri Lankans have reduced their food intake. And half a million families have stopped using electricity.”

#privatization #exploitation #corruption #AbuseOfPower #capitalism #ClassWar #union #unions

This is not Esteban's first fight against Big Oil. He is best known for leaking confidential information about #fracking in #Mendoza (another Argentinean region) and mobilized thousands of people to protest the #Argentine government's #climate policy, after which he had to flee the country. He is also co-founder of the #Debt4Climate movement, which demands that the #WorldBank and #IMF's debt to countries in the #GlobalSouth be canceled so that there can be a just transition to #RenewableEnergy.

UN Secretary General Antonio Guterres Calls for Reform of ‘Outdated, Dysfunctional, and Unfair’ Global Financial Architecture - Antonio Guterres, Secretary General of the United Nations (U.N.), has noted change... - https://news.bitcoin.com/un-secretary-general-antonio-guterres-calls-for-reform-of-outdated-dysfunctional-and-unfair-global-financial-architecture/ #antonioguterres #unitednations #brettonwoods #worldbank #reforms #brics #news #imf

In case you are still under the illusion that we are trying to stop #ClimateChange, the #ClimateCrisis - we are not.
We are just working on channeling the profits "the right way".

" #FossilFuels being subsidised at rate of $13m a minute, says #IMF

#Oil, #gas and #coal benefited from $7tn in support in 2022 despite being primary cause of #climatecrisis

https://www.theguardian.com/environment/2023/aug/24/fossil-fuel-subsidies-imf-report-climate-crisis-oil-gas-coal

via @pvonhellermannn @ariadne

You know we're in critical danger when the #IMF ... that very instrument of #NeoLiberalism! ... posts an article decrying the ever increasing #FossilFuelSubsidies

https://www.imf.org/en/Blogs/Articles/2023/08/24/fossil-fuel-subsidies-surged-to-record-7-trillion

We need #EnergyTransition and we need it 50 years ago, but starting today is better than later. We can't afford to wait.

#ClimateChange
#ClimateCrisis
#FossilFuel

IMF report on fossil fuel subsidies:

- around $1.3trillion globally in explicit subsidies (underpricing supply costs)

- $7trillion globally if you include underpricing external costs (like CO2 and air pollution)

For policy nerds: Technically interesting, and difficult, work by the IMF in distinguishing these concepts and gathering the data!

#Climate #Energy #FossilFuels #ClimatePolicy #EnergyPolicy #IMF

https://www.imf.org/en/Publications/WP/Issues/2023/08/22/IMF-Fossil-Fuel-Subsidies-Data-2023-Update-537281

“Cutting #FossilFuelSubsidies “needs to be the centrepiece of efforts over the next few years to get on track with limiting #GlobalWarming to below 2C”, said Ian Parry of the #IMF. “Ideally this is done through #CarbonPricing [and] some of the revenues from reforms should be used to compensate poor and vulnerable households.” https://climatejustice.social/@ariadne/110946038482063014