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The role of the International Monetary Fund

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  • Essay length: 1090 words
  • Submitted: 20/06/2006
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University Degree International Politics

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Some of the questions that I will be focusing on include: What do the reforms include? What are the problems the reforms are designed to solve? Will they succeed? What are the obstacles to reform?

The IMF was created in 1944 as an organization to promote international monetary cooperation through exchange rate stability and to facilitate the expansion of international trade by addressing balance of payment problems among the initial twenty nine member countries. In recent decades the IMF members have grown significantly. From its first twenty nine members, to now one hundred and eighty three members are now apart of the IMF. Form its original mandate in 1944- to coordinate national currencies- the IMF mandates has significantly expanded. Now the IMF offers financial support and credit to countries in need of financial assistance. The IMF provides fiscal and monetary advice to governments and local economies. In recent years the IMF has received backlash for its policies. Some have argued that the IMF policies and the conditions that the IMF attaches to its loans do more damage than good. Their policies put countries, developing countries especially, in a worse position than they were in before, by

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