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Revealing PSI: People’s resistance against policy conditionalities of the IMF

By voice - Posted on 22 January 2008

SUMMARY - policy support instrumentA Policy Support Instrument (PSI) is a policy consisting of abstract
terms and conditions.

Usually, high profile IMF and government
officials discuss such policies. Academics, researchers, and analysts
working on policy issues understand the salient points, but it is
extremely difficult for the general public to understand the logic and
loopholes of such a deal.

During the recent visit of the IMF delegation to Bangladesh, there
were significant discussions and debates around their PSI offer.
Different stakeholders emerged, voicing their concern about the issue
through the media and other outlets. Civil society members, activists,
business groups and the media in Bangladesh once again proved
themselves active in the resistance against IMF impositions. The news
media published reports, opinion, comments, and analysis on the issue,
raising awareness all around the country.

This report is as much a commentary as a compilation of
formerly scattered information about PSI, and has attempted to
demystify PSI going from the definition to the analysis. Different
reports and views of newspapers also help to shed light on the issue
and to document what happened with respect to the PSI agreement.

Voice has published this report with the intention of disseminating
all the pertinent details for the readers, and documenting the efforts
of the many social movements in Bangladesh to resist pressures of
international financial institutions like the IMF.