The Cyprus government resigned in February after legislation to privatise state-owned electricity, telecoms and ports utilities was rejected. The bill was a condition for an early April disbursement of €236 million ($326 million) by the Troika (comprising the IMF, European Central Bank and the European Commission). Other loan conditions include cutting public sector employment, pensions and public spending. The bill was subsequently passed and the government survived but without its junior partner, the Democratic Party. Public protests and strikes followed, meanwhile one-year-old capital controls limiting bank cash withdrawals to €300 per day remain in place, despite initial claims they would last only a few days.
The Bretton Woods Project has published a new briefing providing a critical analysis of the IMF's latest work on gender equality. The briefing questions the sustainability of the Fund's new approach to gender equality and reveals that the Fund's analysis so far is limited and inconsistent with the full achievement of women's economic empowerment.
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