This paper “International Monetary Fund” captures an overview of the International Monetary Fund (IMF). The overview consists of the establishment reports of the IMF. It follows with the merits and the demerits of the International Monetary Fund (IMF) along with the major roles being played by it…
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The International Monetary Fund (IMF) was established in July 1944, under the ‘Bretton Woods System’ which comprised of three international organizations, those were:The International Monetary Fund (IMF): It was established with a purpose of developing International Monetary Cooperation. The International Bank of Reconstruction and Development: This was established with a motive of International Development Assistance and Investment. The International Trade Organization: It was established with a motive to develop International Trade. The above three components of The Bretton Woods System were entertained in the context of war, high unemployment, depression, hyper inflation and high fluctuating exchange rates which effected the global economy in the 1930s (Sykes, “Organisational Information”).A Brief Overview of The International Monetary Fund (IMF): Membership Currently: 187 countriesManaging Director: Madame Christine Lagarde, from GermanyStaff: 2,470, from 141 different countriesTotal Quotas: US$383 Billion as on 18/08/2011.Loans Outstanding: US$282 BillionTechnical assistance provided: Field delievery in FY 2010 – 192.5 person years.Surveillance Consultations: Consultations concluded for 120 countries in FY 2010 and for 88 countries in FY 2011 as on 11/02/2011 (The International Monetary Fund, “The IMF at a Glance”).The IMF’s governing body essentially, is the board of governors. Each state is being represented by their respective elected governor (member of the Board of Governor, IMF).
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How much will you pay in euro? b How much will you receive (dollars and euros) if you sell 1000 shares? c What will be the total costs and net proceeds in each case (dollar and euros), if the broker charges a 0.2% commission for each transaction? Answer: a) An investor would pay 100,000 in dollars if he would buy the shares of that firm.
The overview consists of the establishment reports of the IMF. It follows with the merits and the demerits of the International Monetary Fund (IMF) along with the major roles being played by it. The study also includes the major criticisms of the International Monetary Fund (IMF) (The World Economy, “The International Monetary Fund”).
The World Bank and International Monetary Fund (IMF) introduced structural adjustment programs, targeting developing countries in as preconditions for securing loans from the global financial institutions1. Since its inception, structural adjustment has had various impacts on the social economic development of the recipient countries.
Detractors contended that despite the fact the Fund was not intended to be, and must not become, a development agency. The view that the Fund must not be advanced to poor nations would have sat restlessly with the portfolio of IMF loaning at the start of the 1980s.
These institutions were designed to be pillars of the post world war global economic order. Crisis prevention and conflict management became established as an important aspect of development policy in the 1990s. It is often assumed that the World Bank and International Monetary Fund in particular have considerable potential in establishing and maintaining peace and stability.
Robert Olivier declared: "their major objective was to provide a world within which competitive market forces would operate freely, unhampered by government interference, for they supposed that market forces would produce optimum results for the entire world.
This led to environmental degradation, income disparities, corruption, unemployment, and social and economic uncertainty. Even after sixteen years of debt reduction and debt-service reduction schemes, seven countries of Latin America accounted for
Originally, the principal role of the international monetary fund (IMF) was to consider appraisals made by countries in need of funds.
The chief role of the IMF is to cover up the budget deficits of countries
The financial needs of bottom line people around the world have made it more difficult for governments to ensure that the people receive food, health care, and education. The Universal Declaration of Human Rights that is adopted by
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