Pros and Cons of IMF Policies
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The paper compares and contrasts the pros and cons of International Monetary Fund (IMF) policies from different perspectives. The paper looks at the background of the IMF and how it established a gold-exchange monetary system with the power to make loans to countries that were running low on reserves. The paper then discusses how today, the role of the IMF has been directed towards promoting economic development in the Third World. Finally, the paper discusses how poor nations are subject to more stringent rules on their loans because of the relatively low level of political power that they hold in their dealings with the IMF.
From the Paper:"Events such as the Great Depression indicated that it has become increasingly difficult to isolate any single country within the world political and economic system. In other words, problems can easily develop and take on a global significance. At the same time, while the world is often characterized as a collection of independent nations, it is equally apparent that the relations between these countries often take on a broader meaning. These points ultimately focus attention on the increasing importance of international systems within our world. More specifically, as nations have become more integrated, and as issues have developed involving the political and economic relations between these nations, it is not unusual to find that international systems and structures have developed in order to deal with these issues. Examples of these systems include the International Monetary Fund, which is commonly known as the IMF. However, while agencies such as the IMF have been intended to facilitate development in the nations of the Third World, the results have been far from impressive. This, of course, has prompted suggestions that the IMF should be restructured or even eliminated entirely."
Cite this Analytical Essay:
Pros and Cons of IMF Policies (2003, October 24) Retrieved January 19, 2022, from https://www.academon.com/analytical-essay/pros-and-cons-of-imf-policies-32797/
"Pros and Cons of IMF Policies" 24 October 2003. Web. 19 January. 2022. <https://www.academon.com/analytical-essay/pros-and-cons-of-imf-policies-32797/>