The International Monetary Fund's stance on austerity characterised by its advisory on reduced public expenditure and higher taxes has been blamed for stunting growth for countries on the continent.
According to a new report titled Fifty Years of Failure: The International Monetary Fund, Debt and Austerity in Africa, the multilateral lender has continued to call for austerity against what it terms as evidence of stifled economic development and human development across Africa.
