Extreme inequality and human rights 2015, para. 37

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The United Nations has not been alone in recognizing the threat posed by the dramatic growth in inequalities. The Managing Director of the International Monetary Fund (IMF) has warned consistently of the seriousness of the problem. At the Fund's annual meeting in 2014 she said: "There has been a staggering rise in inequality - 7 out of 10 people in the world today live in countries where inequality has increased over the last three decades. And yet, we know that excessive inequality saps growth, inhibits inclusion, and undermines trust and social capital." In February 2014, the Executive Board of IMF discussed a staff paper on fiscal policy as the primary tool for Governments to affect income distribution, including "options for reform of expenditure and tax policies to help achieve distributive objectives efficiently in a manner consistent with fiscal sustainability and recent evidence on how fiscal policy measures can be designed to mitigate the impact of fiscal consolidation on inequality".
Legal status
Non-negotiated soft law
Body
Special Rapporteur on extreme poverty and human rights
Document type
Special Procedures' report
Means of adoption
N.A.
Topic(s)
  • Governance & Rule of Law
Person(s) affected
  • N.A.
Year
2015
Paragraph type
Other
Paragraph number
37