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Inflation Phobia Hastens Recessions, Debt Crises
By Anis Chowdhury and Jomo Kwame SundaramSYDNEY and KUALA LUMPUR, Sep 27 2022 (IPS) Inflation phobia among central banks (CBs) is dragging economies into recession and debt crises. Their dogmatic beliefs prevent them from doing right. Instead, they take their cues from Washington: the US Fed, Treasury and Bretton Woods institutions (BWIs). Costly recessions Both BWIs – the International Monetary Fund (IMF) and World Bank – have recently raised the alarm about the likely dire consequences of the ensuing contractionary ‘race to the bottom’. But their dogmas stop them from being pragmatic. Hence, their policy analys...
Source: IPS Inter Press Service - Health - September 27, 2022 Category: International Medicine & Public Health Authors: Anis Chowdhury and Jomo Kwame Sundaram Tags: Development & Aid Economy & Trade Financial Crisis Global Headlines Health Inequality Labour TerraViva United Nations IPS UN Bureau Jomo Kwame Sundaram & Anis Chowdhury Source Type: news