The Commitment to Reducing Inequality Index 2024

Overview

Now in its fifth edition, the Commitment to Reducing Inequality Index (CRI) assesses the commitment of 164 countries and regions to fighting inequality. The CRI 2024 offers powerful new evidence on whether governments are acting to reduce inequality through policies on public services, fair taxation and labour rights. It reveals negative trends in the vast majority of countries since 2022. Four in five have cut the share of their budgets going to education, health and/or social protection; four in five have backtracked on progressive taxation; and nine in ten have regressed on labour rights and minimum wages. Nine out of ten countries have backtracked in one or more area, meaning without urgent policy actions to reverse this worrying trend, economic inequality will almost certainly continue to rise in 90% of countries.

Despite some progress, the IMF and the World Bank could do far more to prioritize the fight to reduce inequality. This report assesses their actions across the three CRI pillars of public services, taxation and labour rights. It makes recommendations for how the IMF and World Bank should stop promoting policies that increase inequality and instead support those policies that reduce it, as a matter of urgency.