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...
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...y agendas in that they attempt to help countries in need and promote economic stability and development. However, their one size fits all policies can sometimes harm the countries they are trying to help, especially for developing countries. Their neoliberal policies often create problems in the soft sectors including education, health, and housing. This problem could be credited to the institutions, especially the IMF, which are largely comprised of macro-economists who specialize in short-term macro-economic stabilization, when developing countries need fundamental reform for the long term (Murtaza 2). These institutions should also take into account the unique circumstances of each individual country they work with in order to create policies that cater to the specific interests of each country and prevent as many negative consequences for the people as possible.
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