“A standard IMF package often involves, among other things, the following “conditionalities”: 1) devaluation of currency; 2) tight monetary and fiscal constraints; 3) budget cuts, with sharply reduced public expenditures; 4) a wage freeze; and 5) sharp reduction or elimination of import and price subsidies.” — Anonymous Copy Share Image
As fiscal constraints impinge on defence and diplomacy, governments find themselves increasingly homebound, even if diplomats happily travel to summits. — Sanjaya Baru Copy Share Image
