Ethiopian Review

Addis Abeba, (All Africa) — The Spring Meetings of the World Bank and International Monetary Fund (IMF) are a ‘make or break’ moment for whether the G20 deal will benefit the millions of children and adults struggling to get an education, according to a new policy report from the Global Campaign for Education (GCE).

“Education on the Brink” shows that without significant changes to the IMF architecture and removal of conditionalities, the poorest nations will remain unable to lift themselves out of recession. Education systems will be left to languish without desperately-needed funds and the teacher workforce, already squeezed, is likely to face further pressure, it said in a statement.

The future of millions of children and illiterate adults now rests on whether the new cash injection given by the G20 to the IMF is accompanied by a substantive overhaul of macroeconomic policy frameworks, GCE members were sited as saying.

“A good education is everyone’s human right, essential for individual growth as well as the economic growth of every nation. Paying teachers is not luxury expenditure, nor is it optional. There’s not a single IMF worker who got to their position without a good education and a bunch of great teachers. Everyone should have this chance, and that means making the resources available to recruit, train and pay teachers”, commented Kailash Satyarthi, GCE President.

There are 75 million children out of school and 776 million illiterate adults today. Yet, educated and healthy people have the best opportunities to participate in and make lasting contribution to their societies. Investment in education is thus the strongest line of defence for any country’s economic survival and comeback. A person’s earnings increase by 10% for of each year of schooling they receive – translating to a 1% annual increase in GDP if good quality education is given to the entire nation. With estimates of unemployment increasing by 30-50 million in the developing world, and 200 million more people being pushed into extreme poverty, it’s crucial that funding education is not constrained.