In response to the publication today of the World Economic Outlook by the International Monetary Fund (IMF), Nabil Abdo, Oxfam International’s senior policy advisor on international financial institutions, said: “The IMF is now saying that fiscal consolidation during economic crisis —like today’s economic maelstrom— hasn't served its primary purpose of reducing debt. It’s positive that the IMF is finally admitting this painfully evident fact, but it’s hugely frustrating that it continues to push austerity measures on poor borrowing countries facing huge economic challenges."