A/HRC/38/33
would really wish to, outsource much of its work on the issue to the World Bank
unless it has its own in-house expertise to keep a close eye on such collaborative
efforts.
71.
For its part, the human rights community must also start undertaking serious
engagement with, and scrutiny of, the work of IMF. Its work has significant human
rights impacts and fiscal consolidation policies can make or break rights.
72.
In a world that is now suffering the consequences of the past lopsided approach
of IMF to globalization and its single-minded pursuit of a model of fiscal consolidation
that relegated social impact to an afterthought, IMF not only bears responsibility for
the past but will also determine whether the future will be different. To date, IMF has
been an organization with a large brain, an unhealthy ego and a tiny conscience. If it
takes social protection on board seriously, rather than making a tokenistic
commitment to minimal safety nets, it can show that it has actually learned from its
past mistakes.
20
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