UNICEF Social Inclusion, Policy and Budgeting

Recovery with a Human Face?

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AUTHOR Frances Stewart, Richard Jolly and Andrea Cornia
ORGANIZATION UNICEF
TYPE Other
DATE 2010
TOPIC Economic crisis and recovery
LANGUAGE English
ABSTRACT

The debt crisis of the 1980s led to a severe recession in almost all African and Latin American countries. IMF and World Bank adjustment programmes required countries to cutback on their expenditures, introduce charges for health and education, and reduce or abolish the minimum wage. Reductions in protection led to the collapse of industrial sectors in many countries, and to high unemployment. Poverty rose and income distribution worsened. Most countries had no or very limited programmes of social protection. This was what came to be known as the ‘lost decade’.


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