India, Oct. 13 -- Countries implementing austerity measures under International Monetary Fund (IMF) loan programmes are around twice as vulnerable to the economic fallout of the US and Israel's war against Iran and the worsening climate crisis, according to an Oxfam analysis released ahead of the World Bank and IMF Annual Meetings in Bangkok, Thailand.
IMF Borrowers Face Mounting Economic Pressures
Oxfam said 24 of the 28 countries with ongoing IMF loan programmes are required to implement austerity cuts. These nations were already experiencing severe food, fuel and economic pressures before the war began, leaving millions of people exposed to further disruptions.
The analysis found that 51% of people in these countries faced food insecu...