This working paper: (i) examines historical and projected government expenditure trends for 189 countries; (ii) reviews the latest IMF country reports for countries to identify the main channels used by governments to adjust expenditures; (iii) discusses the negative social impacts of austerity...

The world’s financial and economic crisis has taken a toll on children and poor households. High food and commodity prices, unemployment and austerity measures have aggravated persistent inequalities and contributed to a substantial rise in hunger and social tensions. Now, more than ever,...