International Monetary Fund
(IMF)
The international monetary fund or IMF, basically promotes international monetary harmony to simplify the expansion of international trade. In a more detailed view, it advocates global monetary understanding, monitors the exchange rate and financial policies of member nations, and provides credit for member countries that are experiencing a temporary unbalance of payments.
Contrary to popular belief, It is not a world central bank which exists to help the economic development of poor, undeveloped countries, nor does it have any authority over its member’s domestic policies and regulations. It is a mutual establishment with voluntarily membership that enables its members to benefit from consultations with each other. This provides a stable environment for exchanging payments smoothly and quickly. Thus, the IMF greatly increases international trade, which, in effect, expands the world economy.
How does this system work? Established by the United Nations at a conference held in 1944 at Bretton Woods, New Hampshire, the IMF seeks monetary stability. At that time, because of all the recessions and the Great depression, people all over the world were demanding gold, instead of the national currency, beyond what national treasuries could supply. Therefore, many nations were coerced into abandoning the gold standard, which had given money a known and stable value. Now that countries could not depend on the steady value of gold, exchanging money became very difficult between the nations using gold and those that did not. These complications caused many of these nations to sell their products at a cheaper rate (way below its realistic value) just to undermine the trade of other nations selling the same products. There wasn’t a high demand for foreign currencies that weren’t backed by gold; governments weren’t willing to take the chance on foreign currency and its current rates. This global turmoil caused the UN to create the IMF to help regulate the International trade.
From the headquarters in Washington D.C., membership is open to all independent countries with a current membership of 181 nations. On joining the fund, members are assigned a quota (a sort of membership fee) in special drawing rights or SDR, the fund’s unit of account whose value is based on the average value of five major currencies. Each member’s ...
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...roversial debate in Congress raises the question of whether taxpayer money should go to the increasing contributions to the IMF. However, without this much needed assistance from the IMF, the Asian crisis will worsen with eventual negative consequences for the U.S. economy because these Asian countries will not be able to buy American goods or must cut prices so that American firms would find it hard to compete in international markets. Also, this financial affliction of Asian countries can harm U.S. security interests in Asia, claims Secretary of State, Madeleine Albright. Therefore, this policy of helping out member countries, especially by the United States, is greatly appreciated and needed by many unstable countries.
By overseeing the international monetary system, the International Monetary Fund creates a more sturdy and prosperous world economy. The IMF assists countries with economic problems and consults its members on improving economic policies. By improving the exchange rates between nations, the IMF promotes a sturdy and healthy universal trade. Therefore, The International Monetary Fund is the necessary tool that helps the global economy continue into the future.
These international economic institutions should possess substantial transparency considering their policies directly affect the public. Instead, the IMF and similar institutions have no accountability to the public of which it is supposed to serve. Through lack of transparency, countries with major influence in the IMF such as the U.S. can indirectly impose its own investment agenda upon the country in crisis. If actions of the IMF were directed through a democratic process, more logical and productive policies would develop. If the IMF promotes transparency through the policies it imposes on developing countries, it should set an example through its own governance.
The company known as Coca-Cola today was started in September of 1919, but the first Coke brand was served as early as 1886. Since that time it has grown to be one of the most globally recognized brand names with a stock value of $167 billion. Coke’s plan has always been developed with the future in mind. Right away the company realized that it was more profitable to manufacture the concentrate used to make carbonated drinks than to bottle it. From that point on they saw the entire world, not simply the originating country, as their desired market. It seems only practical that the company should pursue this agenda until conquered then focus the effort on expanding into different product lines. This logical idea has catapulted them into the much sought after position of number one.
Coca cola Co. was invented in 1886 by a pharmacist named John Stith Pemberton. Af...
An attorney is like any other profession, such as a doctor, mechanic, accountant, or engineer, there are good ones, and there are bad ones. With lawyers, it is extra tough for the average person to tell the difference. Also, in a civil courthouse you do not get to pick your lawyer, you take what they give you. One attorney states that "50 percent of all people engaged in litigation will end up hating, at least, two lawyers," (Case). There are the lawyers who graduated from law school, passed the Bar Exam, and are licensed to practice law in the state, but seem to have no idea how to defend a client in a criminal case at trial due to lack of experience. Some lawyers lose sight of maintaining post-conviction alternative routes for their customers. Another source agrees quotes "The reality is that prosecutorial misconduct is at least as serious a problem at the local level, where prosecutors are less well-trained" (Lindorff). Finding an experienced lawyer who is all for the client is not as easy as it seems, but they do
Nevertheless, the problem with the IMF is that they come to the table when the damage is already so far gone that they require such drastic cuts to everything, ensuring that the public cannot sustain its way of living, thereby turning on the government that is trying to fix the problem, who as a result, cuts back on the austerity measures. In Greece’s case, the IMF only added to the debt, each time failing to ignite the Greek economy and in this circumstance, exacerbated the situation. The lack of integrity in hiding their true debt, the Greek government didn’t help matters, as well as national pride of both the Greeks and the Germans, borrower and lender. This tragic saga with the dueling prides, caused the IMF to change its lending rules. “If private creditors are simply paid off with IMF money, there is less incentive for a country to pursue reforms needed to improve its debt profile” (Matthew heller, 2016). In other words, they learned a lesson: lending to a state that doesn’t have control over its currency isn’t always the best course of
The IMF plays a pivotal role in the international economy system. As its initial goal about reconstructs world’s international payment system, such as contributes to surveillance of the global economy, to stabilize exchange rates, to lend money to help countries to resolve emergency situation but with certain conditions and should pay back in a short time. The IMF has done a large number of things to help the world economy, not only in the western countries, but in many developing countries as well.
Founded in 1886 Coca cola has been a strong company leading the charts in sales and ad campaigns. After conducting some research coca cola realizes that a vast amount of people have yet to try their product. In 2012 the company
Coca Cola is one of the leading and well known beverage companies in the world. Established in 1886 by Dr John Styth Pemberton. No matter which country it is produced in, people will recognize the beverage as coke. They became a registered company in March 27, 1944. A business man named Asa Griggs Candler bought Coca Cola and his marketing strategy and tactics led to its dominance. They have various products under their name which includes diet coke, Aquarius, Minute maid, Fanta, sprite etc. They have more than twenty one different brands starting from bottled water to coke. The coca cola company targets people who are at the age of 18 to 25. They satisfy people with their products. They have specific products for children and adults. They are very keen with their marketing skills. Their ability to know the customer need helps them to create value for the customers. They work with big retailers (chain) and small retailers which helps them to reduce cost and improve production or sales. More than 200 countries sell Coca cola. They are not manufactured in all the countries but they are sold everywhere. Coca cola also have a successful advertising effort. Market segmentation, advertising have played aggressively with their success. They have been official sponsors for big events like Olympics, Fifa etc. Every year, the company is bringing new foreign markets to bring h...
Coca Cola has been started as a great icon in the US by Dr. John S. Pemberton back in the 1880’s. Pemberton created a unique flavored soda that was sold to “old fashioned pharmacies”. The Coca Cola name and trademark was designed by Dr. John Pembertons partner and also book keeper Frank Robinson.
Coco-Cola was created by John S. Pemberton on May 8, 1886. Only nine drinks were sold in that year. Coca-Cola was named by Frank Robinson. Frank thought that two Cs would look great in the advertisement of the product, to his discovery his vision was on the money. In 1887 Pemberton copyrighted his Coca-Cola Syrup and Extract with this United States Patent Office, and the rest in history.
the effect that the work of the IMF and the World Bank have had on the
The Coca-Cola Company is a leading manufacturer, distributor and marketer of soft drink concentrates and syrups, juice and juice-drink products. The company is a profitable company that trades on the New York Stock Exchange. The original product was formulated in 1886 by john Pemberton, a pharmacist in Atlanta Georgia, who sold it at a local drug store soda fountain as a "treatment for the mental and physical disorders. A few years later, Asa Candler acquired the formula, established a sales force and began advertising the brand of Coca-Cola. The Coca-Cola became incorporated in 1919 and is now the largest manufacturer, distributor and marketer of non- alcoholic beverages in the world.
Joseph Stiglit’s focused on criticizing the International Monetary Fund (IMF) and how globalization makes the rich countries richer and the poor countries poorer. At first, I thought that the book was too technical for a beginner on the subject to understand, but he was able explain well the contents of this book. This book is very informational for people, who are into globalization and economic development. His sharp critiques on globalizations, particularly on the International Monetary Fund (IMF), that was based on his own experiences. In this book, he emphasized the effect of globalization on the Least Developed Countries as well as on the Developed Countries. I chose On Globalization and its Discontent because aside from the striking title of the book, it also the sincere opinions of Joseph Stiglitz. Also, I chose this book aside from it being required, I figured out that this book will be of good help for me in the near future – if I want to pursue this track – with all the information that were given by Stiglitz.
The IMF was created at the end of WWII in order to create a framework for global economic cooperation without creating a second Great Depression. Since its creation it has evolved to tackle a variety of economic issues. The goal of the IMF is to help the governments of member countries “take advantage of the opportunities- and manage the challenges- posed by globalization and economic development more generally.” It tracks global economic trends and performance, alerts member countries of potential problems, provides of forum to discuss policy, and helps governments in times of economic hardship. It provides policy advice and financing to member countries suffering from economic adversity. Additionally, it aims to create...
The IMF was established to promote internal monetary cooperation through a permanent institution, which provides the machinery for consultation and collaboration on international monetary problems. Also, it provides temporary financial assistance to countries under adequate safeguards to help ease balance of payments adjustments. In addition, it facilitates the expansion and balanced growth of internal trade.