Why Does the IMF Require Some Type of Austerity Program

question 17

Short Answer

Why does the IMF require some type of austerity program on its loans?

---

Definitions:

Dichotomous

Pertaining to or involving a division or contrast between two completely opposite groups or things.

Cultural Bias

The tendency of a culture to interpret and judge phenomena by standards inherent to its own culture.

Normed

Refers to the process of standardizing a test or assessment by administering it to a specific group and using the results as a reference for interpreting individual scores.

Accommodations

Accommodations are adjustments or modifications provided to individuals with disabilities or special needs to enable them to participate fully in an activity or setting, such as in testing or in the workplace.