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Figure: Economy in Distress

Question 303

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Figure: Economy in Distress Figure: Economy in Distress This country, currently at point C, has approached the IMF for a loan. Critics of the IMF's recovery packages claim that their austerity recommendations for monetary and fiscal policy worsen recessions. Using the diagram, explain their argument.
This country, currently at point C, has approached the IMF for a loan. Critics of the IMF's recovery packages claim that their "austerity" recommendations for monetary and fiscal policy worsen recessions. Using the diagram, explain their argument.

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Austerity recommendations typically incl...

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