IMF calls for taxing world’s richest to
curb inequality, stave off social unrest
f governments don’t close the gap between society’s richest and poorest members which was growing before and has exploded during the coronavirus crisis by raising wages for low-income workers, taxing wealthy households, and using the increased revenue to improve social welfare, they should expect diminished trust in government and increased social polarization and unrest.
That warning comes in a new report on the intensification of inequality released Thursday by the International Monetary Fund (IMF), a Washington D.C.-based international financial institution whose lending policies prior to and even during the Covid-19 pandemic have heightened vulnerability to crises by imposing public expenditure cuts in developing countries.
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