Menu close
April 21, 2024

United with 96 human rights, faith-based, and economic justice organizations, ActionAid joins this global call for the right to social security.

In light of the ongoing economic environmental crises, coupled with rising inequality affecting the economic and social rights of millions globally, the World Bank and IMF stand at a critical juncture. They need to move away from targeted social protection to universal, public provision to pave the way for more just and equitable economies and societies worldwide.

Ahead of the 2023 meetings in Morocco, 71 civil society organizations released a joint statement calling on the World Bank and IMF to change their social protection policies and practices. We are now reiterating our concerns in the letter sent to the IMF and World Bank Boards.

We strongly urge the World Bank and IMF, as pivotal actors in shaping social security policies in low- and middle-income countries, to take four measures to realize the right to social security:

  1. Support states to realize the right to social security. Immediately commit to support states to progressively realize the right to social security. This involves setting up or strengthening rights-aligned social security systems, including the establishment of social protection floors in line with ILO Recommendation 202.
  2. Replace the focus on poverty-targeting with universal systems. Stop funding new poverty-targeted programs and phase out existing ones, along with related technologies and privacy-invasive infrastructure such as social registries. Additionally strengthen a fair distribution of resources by coupling universal social security with fiscal reforms that reduce inequality. 
  3. Support equitable and sustainable public systems. Support equitable and sustainable social security systems in accordance with international standards, including by promoting adequate employers’ contributions and adequate social security benefits to ensure income security. Avoid pension privatization and instead strengthen public social security systems.
  4. Cease harmful austerity budgeting reforms. Halt austerity policies that threaten rights and privatize social security, and refrain from promoting social spending trade-offs. Cease conditioning loans on austerity measures and promoting austerity as a policy priority for governments. Ensure that any increase in social spending in one sector, for instance, on social security, does not come at the expense of other rights. 

Let’s hold banks accountable

It's time to step up and make a difference in the world of climate finance! Citibank, Barclays, and HSBC are pouring tons of money into industries that are driving our planet towards climate catastrophe. They're investing in fossil fuels and industrial agriculture, which are the top two contributors to increasing greenhouse gas emissions. What's worse, their investments are wrecking the environment and abusing human rights.