Not Even with a Pandemic: The IMF, Human Rights, and Rational Choices Under Power Relations

Abstract

Since the 1970s, neoliberalism has implied a deep reconfiguration of national economies and a significant increase in inequalities. The International Monetary Fund (IMF), which considers itself above human rights, has been a central institutional vehicle in this change through its credits and conditionalities that regularly translate into violations of the human rights of debtor states’ populations. Neoliberalism entertains a hegemonic notion of human rights that proposes a vision of them based on the—alleged—defense of civil and political rights—that focuses on the individuals and distrust of the state—to the detriment of economic and social rights—where the relational aspect is essential, and the state assumes positive obligations. This has led to strong criticism of the ineffectiveness of human rights in producing real change in the world. This article discusses this minimalist and defeatist interpretation of human rights, highlighting their transformative potential in the fields of finance and economics. Human rights can function as a method to achieve, in fields of high complexity and abstraction, objectives that today enjoy broad consensus: reducing poverty, inequality, and climate change. This study shows that the marginalization of human rights that characterizes the IMF parallels the excessive exercise of its power in the world. Finally, some indications are provided regarding how these tensions were exacerbated in the context of the COVID-19 pandemic.