The International Monetary Fund Essay

The International Monetary Fund Essay

Length: 2566 words (7.3 double-spaced pages)

Rating: Term Papers

Open Document

Essay Preview

1. Introduction
1.1 What is the International Monetary Fund (IMF)?
“The International Monetary Fund is an organisation that provides short-term credit to 186 member nations. The International Monetary Fund works to maintain orderly payments arrangements between countries and to promote growth of the world economy without inflation. It supports free trade in goods and services. To stabilize its members’ economies, the IMF provides policy advice and short-term loans when a member nation encounters financial difficulty.”
World Book, Inc
1.2 The history of the International Monetary Fund (IMF).
The International Monetary Fund was designed during World War II by men whose
worldview had been shaped by the Great War and the Great Depression. Their views on how the post-war international monetary system should function were also shaped by their economics training and their nationalities. To prevent a reoccurrence of monetary and financial instability, the Conference established the International Monetary Fund (IMF). The IMF started in July 1944, when 45 governments and their representatives held a meeting in the town of Bretton Woods, New Hampshire, in the North Eastern United States, they agreed on a framework for international economic cooperation.

As result to the meeting they draft a charter of an international institution to oversee the international monetary system and to promote both the elimination of exchange restrictions relating to trade in goods and services, and the stability of exchange rates. The main role of the IMF was to stabilize the exchange rate, prevent crisis, and resolution of crisis.
After the IMF began functioning as an institution, its evolution was similarly driven by a combination of political even...


... middle of paper ...


...cies for these new situations had to be adapted quickly, and yet many elements of the old doctrine survived, dinosaurs at times, at odds with the new reality of these external crises confronting the developing economies.



Works Cited

1. Bannock,G. Davis,E.etl. The New Penguin Business Dictionary. 2002. Strand:London. Pg 267.

2. Boughton, James M. The IMF and the Force of History: Ten Events and Ten Ideas that Have Shaped the Institution.2004. http://www.imf.org [Web Accessed: 27 April 2010].

3. Fetzer,S. Company. The World Book Encyclopedia: I volume 10. United States of America. 2001.

4. Frenkel, R. Current problems with the IMF: Briefing paper. 2007. http://library.fes.de [Web Accessed: 27 April 2010].

5. Fundamental Disequilibrium:Role in Balance-of-payments Accounting. Britanica-eb.com. http://www.britannica.com [Web Accessed: 26 April 2010].

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

International Monetary Fund For The United States Essay

- Jamaica is home of the phrase “be happy, don’t worry,” and is a popular tourist spot that foreigners escape to for a temporary slice of paradise. Given the success of the tourist industry, it is easy to mistake Jamaica as a thriving country with the locals living blissfully in paradise; the clip from “Life and Debt” completely dispels these notions and introduces the negative effects that have developed from free trade policies that were recommended by the International Monetary Fund. International Monetary Fund representatives in the clip present globalization and free trade as a form of economic liberation that would bring Jamaica economic success despite its small size....   [tags: International Monetary Fund, Economics]

Term Papers
1077 words (3.1 pages)

Greece 's International Monetary Fund Essays

- This year, the world is watching as Greece is standing up to economic terrorism coming from all sides, most notably the International Monetary Fund that has wanted the Greek government to implement austerity measures. The Greek people boldly made what Alexis Tsipras, the Prime Minister of Greece, called a "bold choice" ensuring that "democracy won 't be blackmailed". (Cendrowicz, Johnston & Savaricas, 2015) It 's not just the Greeks saying this, French Economy Minister Emmanuel Macron said that the EU couldn 't "crush an entire people", stating that compromises must be made....   [tags: International Monetary Fund, Economics, Greeks]

Term Papers
730 words (2.1 pages)

The International Monetary Fund ( Imf ) And The World Bank Essay

- Introduction It is 35 degrees Celsius on what is shaping out to be one of the hottest Summer days on record. Thirsty, you open the fridge to quench your thirst with a tall glass of filtered water. To your surprise, there is no water in the fridge. Feeling defeated, your older brother comes along holding a 2-litre jug of ice-cold water. Noticing how thirsty you are, your brother offers you 1-litre of his ice-cold water on the condition that you complete his chores for a week. You agree without hesitation, failing to consider the consequences of the deal you just entered because of your fragile state....   [tags: World Bank, International Monetary Fund]

Term Papers
1413 words (4 pages)

Essay on International Monetary Fund ( Imf ) / World Bank

- International Monetary Fund (IMF)/World Bank IMF is collectively called the International Financial Institutions (IFIs) and has three main activities which are surveillance, financial assistance and technical assistance. This a 187 member-countries organisation that was formed just after world war 2 in late July 1944 at Bretton Woods in Hampshire with the aim of stabilizing global economic markets (international currency market and contraction of international trade) and resuscitating economies of different countries that had been affected by world wide depression that was caused by world war 2....   [tags: Poverty, World Bank, International Monetary Fund]

Term Papers
923 words (2.6 pages)

The Impact Of Transnational Industries And Global Financial Institutions Such As The World Bank And International Monetary Fund

- This essay aims to explore and critically analyse the impact of transnational industries and/or global financial institutions such as the World Bank and International Monetary Fund (IMF) in the sub-Sahara Africa. It will explore the impact on health, economic, and environmental, political and cultural determinates on developing countries. A country in the sub-Sahara Africa region will be used as a prime example in dealing with some of the above institutions and their outcomes, and a conclusion given....   [tags: World Bank, International Monetary Fund]

Term Papers
841 words (2.4 pages)

The International Monetary Fund's Model Essay

- Who are the IMF. The International Monetary Fund( IMF) is comprised of 188 member states for increasing global cooperation on monetary matters, ensure financial stability, facilitate international trade, support sustainable economic growth and high employment and working to reduce poverty all over the world. Although, the IMF is one of the specialized agencies of United Nations, they have their own charter, management structure and financial resources. The members are represented through a quota system which is determined based their relative size in the global economy....   [tags: development, monetary matters]

Term Papers
1525 words (4.4 pages)

International Monetary Fund (IMF) Essay

- The IMF is an intergovernmental organization that offers financial advice and assistance to its member states. It was conceived at the end of World War II, in July 1944 with forty five member states in a meeting held in Bretton Woods, New Hampshire, United States of America (International Monetary Fund) In the meeting, the members agreed to establish a framework for international economic cooperation that would prevent economic crises such as the Great Depression from happening again (Digital films, 2009)....   [tags: International Economic Cooperation]

Term Papers
537 words (1.5 pages)

Role of the International Monetary Fund Essay example

- I, like many people, have always heard about the International Monetary Fund in the news yet never really knew or understood its inner workings, this report over views what the International Monetary Fund is, how it works, and how it is currently involved internationally. The International Monetary Fund (IMF) is a form of world credit union that has 187 countries involved, a near global involvement. The International Monetary Fund’s was founded in the aftermath of World War II in 1945 along with the International Bank for Reconstruction and Development (IBRD) and the General Agreement on Tariffs and Trade (GATT) as an agency of the United Nations....   [tags: history, economics]

Term Papers
1923 words (5.5 pages)

The International Monetary Fund Essay

- 1. Introduction 1.1 What is the International Monetary Fund (IMF). “The International Monetary Fund is an organisation that provides short-term credit to 186 member nations. The International Monetary Fund works to maintain orderly payments arrangements between countries and to promote growth of the world economy without inflation. It supports free trade in goods and services. To stabilize its members’ economies, the IMF provides policy advice and short-term loans when a member nation encounters financial difficulty.” World Book, Inc 1.2 The history of the International Monetary Fund (IMF)....   [tags: Finance]

Term Papers
2566 words (7.3 pages)

The International Monetary Fund (IMF) Essay

- The International Monetary Fund (IMF) International Monetary Fund (IMF), international economic organization whose purpose is to promote international monetary cooperation to facilitate the expansion of international trade. The IMF operates as a United Nations specialized agency and is a permanent forum for consideration of issues of international payments, in which member nations are encouraged to maintain an orderly pattern of exchange rates and to avoid restrictive exchange practices. The IMF was established along with the International Bank for Reconstruction and Development The IMF's Main Business: Macroeconomic and Financial Sector Policies In its oversight of member count...   [tags: International Economics Organizations essays]

Term Papers
1899 words (5.4 pages)