The International Monetary Fund And Use Of Structural Adjustment Programs Enforcing Gmos Into Ukraine

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The International Monetary Fund and the use of Structural Adjustment Programs enforcing GMOs into Ukraine The International Monetary Fund, or IMF for short, was a foundation established in 1944 at Bretton Woods, New Hampshire, at the end of World War II. The idea behind establishing the IMF was simple: prevent another cataclysmic economic failure such as the Great Depression, which shook the world in the 1930 's. However, the IMF was also established for a few other goals such as stabilizing currency exchange rates, aiding economic stability and reducing unemployment in third world countries. One major criticism of the IMF by anti-globalization protesters is that the IMF pushes western views, and this has some validity in the way the power is structured among countries in the IMF. Just one prime example of this is that the United States of America is the largest shareholder of the IMF, which lets it have a large influence on policies that the IMF enforces on countries that need support from it. Structural Adjustment Programs, or SAPs, are a large notice for criticism regarding the IMF. Before the IMF grants a loan, there will be conditions that the receiving country needs to follow that create changes to the countries economy. SAPs are put into place to increase the income of countries by promoting exports, which in turn helps with affording the debts owed to the IMF. Not to mention, one key argument from those that promote sovereignty is how much power the Group of Eight, or G8, has, due to them being first world powers, many feel that this would mean the valuable cultures and economic sovereignty of third world countries would be damaged by SAPs. Firstly, the G8 are 8 of the executive members of the IMF that meet annually to ... ... middle of paper ... ...stently provide assistance without bias and be consistently responsible because there are alternative methods of helping an economy flourish, considering pushing large corporations which harm the environment will only decrease the health of a country 's population and certainly doesn 't do good for local businesses that would otherwise enrich the country 's unique culture. Henceforth, there isn 't an innate need for bias when an international system should have more than enough resources to understand a country 's culture and economic individuality enough to improve upon that focus without pushing their own bias towards large, polluting corporations. There should be a system which would ensure economic growth in countries that need support without extending western businesses globally and overpowering local, culturally diverse businesses in our global economy.

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