Twenty-first-century crises and the social turn of international financialiInstitutions

The early twenty-first century will be remembered as a time of constant crisis. These crises have created repeated global states of emergency, revealing gaps, and inadequacies in social protection systems worldwide. Alongside these crises, and as a response to them, social protection has grown into...

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Bibliographic Details
Main Author: Engström, Viljam 1973- (Author)
Format: Electronic Article
Language:English
Published: 2023
In: Human rights review
Year: 2023, Volume: 24, Issue: 2, Pages: 289-306
Online Access: Presumably Free Access
Volltext (lizenzpflichtig)
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Keywords:
Vulnerable groups
Financial Crisis
Covid-19 Pandemic
Social protection
World Bank
International Monetary Fund

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520 |a The early twenty-first century will be remembered as a time of constant crisis. These crises have created repeated global states of emergency, revealing gaps, and inadequacies in social protection systems worldwide. Alongside these crises, and as a response to them, social protection has grown into a paradigm of global governance. This development is also noticeable in the practices of the World Bank and the International Monetary Fund. At the heart of all social protection policies is the protection of vulnerable groups. Crises create new vulnerabilities and deteriorate the situation of those already vulnerable. The article explores the social protection endorsement of the World Bank and the International Monetary Fund through the financial crisis and the COVID-19 pandemic. It shows how crises have fueled their social protection endorsement, making protection of vulnerable groups a central outspoken policy preference. The article asks whether the policies adopted in response to the pandemic confirm their social protection commitment and what challenges remain. 
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