The International Monetary Fund

Paper Summary:

The paper examines the history and policies of the International Monetary Fund (IMF) and contends that it has failed in promoting the conditions for economic growth in developing countries. The paper shows how flawed IMF policies have not promoted economic growth in Third World nations but instead have made economic growth virtually impossible. The paper asserts that organizations like the IMF should be abolished, for they are perpetuating the fundamental economic injustice inherent in a global economy where the powerful industrialized nations prosper by exploiting undeveloped ones.

From the Paper:

"Numerous Congressional hearings have confirmed this assessment, for Congress has harshly criticized the International Monetary Fund, and added fuel to the firestorm of controversy that has surrounded the IMF since its mishandling of the Asian financial crisis. Public disputes over the leadership of the institution are intensifying, and massive demonstrations such as occurred in Seattle are demonstrating that the IMF is under siege as it has never been before in all of its fifty-six-year history."

Sample of Sources Used:

• Ali, Taisier M. and Robert O. Matthews, (eds). Civil Wars in Africa: Roots and Resolution. Toronto: University of Toronto Press, 1999.
• Bandow, Doug & Vasquez, Ian. Perpetuating Poverty: The World Bank, the IMF, and the Developing World. New York: Cato Institute, 1994.
• Crocker, Chester A. and Fen Osler Hampson, (eds). Managing Global Chaos: Sources of and Responses to International Conflict. Washington: United States Institute of Peace Press, 1996.
• Fisher, Julie. Non-Governments: NGO's and the Political Development of the Third World. New York: Kumarian Press, 1997.
• Johnson, Krista. "Globalization, Social Policy and the State: An Analysis of HIV/AIDS in South Africa." New Political Science. 27 (3): 309-329. 2005.

More papers on The International Monetary Fund:

• Research Paper # 106261 : "History of the International Monetary Fund"
• Research Paper # 75030 : "The World Bank and the International Monetary Fund"
• Analytical Essay # 134254 : "Argentina and the International Monetary Fund"
• Essay # 16723 : "The International Monetary Fund"

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