In this age of change, the international financial is progressing promptly on various fronts, such as the International Monetary Fund (IMF) play a pivotal role in international financial system. Yet at the same time, many criticisms point out that IMF are not efficient enough to react to settle the problems that have accompanied with this trend. This issue has drawn widespread attention in recent decades. This essay will give an overview about what the IMF it is first, and then put forward by some examples that what kind of role the IMF has done to address financial issues, good or bad. Finally, this essay will propose some solutions about the IMF how could it be more useful to solve the financial crisis.
The International Monetary Fund (IMF) is an international organization was set up in 1945 after World War II. The whole world had experienced severely destruction during the period World War One and World War Two, each state need the restorative processes and a good platform to recover its inherent ability and make their citizens get rid of poverty, hence economy problem it was the first problem that states should be concerned.
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.
According to the IMF’s principles and i...
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...Lower Public Debt, Structural Reforms Critical, says IMF’, IMF Country Report. International Monetary Fund, Washington, D.C. No. 11/181.
IMF. (2012) ‘Latvia Emerges Stronger As International Support Winds Down’, IMF Country Report. International Monetary Fund, Washington, D.C. No. 12/31.
IMF Surveillance. (2013) IMF Surveillance [online]. International Monetary Fund. Available from: http://www.imf.org/external/np/exr/facts/surv.htm [Accessed 10 November 2013].
Takagi, S. (2010) ‘Applying the Lessons of Asia: The IMF’s Crisis Management Strategy in 2008’, ADBI Working Paper 206. Tokyo: Asian Development Bank Institute. Available from: http://www.adbi.org/workingpaper/2010/03/16/3638.imf.crisis.management.strategy.2008/ [Accessed 10 November 2013]
Weiss, M.A. (2009) ‘The Global Financial Crisis: The Role of the International Monetary Fund’, CRS Report for Congress.
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