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Article: FINANCE-ARMS: MILITARY SPENDING PLUNGED IN LAST DECADE, SAYS IMF
- Article from:
- Inter Press Service English News Wire
- Article date:
- June 3, 1996
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Inter Press Service English News Wire
06-03-1996
WASHINGTON, June 3 (IPS) -- Global military spending fell
sharply between 1985 and 1995 -- by almost three percent of global
gross domestic product (GDP), according to a new study by the
International Monetary Fund (IMF).
The result has been a peace dividend of tens of billions of
dollars, according to the agency, which reported its results in
this week's edition of the "IMF Survey."
If the ratio of military spending to GDP had continued at 1985
levels, according to the study, global military budgets would have
been at least $720 billion higher in 1995 than they actually were.
The effects of these cuts on national economies remain unclear,
...