To What Extent has the International Monetary Fund Impacted the Democratic Republic of Congo under Mobutu Sese Seko?

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Part A: Plan of Investigation To What Extent has the International Monetary Fund Impacted the Democratic Republic of Congo under Mobutu Sese Seko? The International Monetary Fund (created in 1945) was conceived by the meeting of representatives of 45 countries in Bretton woods, New Hampshire, United States to support countries facing debt crisis. The aim of this internal assessment is to examine the effect the IMF has had on the Democratic Republic of Congo under the leader Mobutu. Many sources were consulted, including books, websites, and documentaries related to the IMF and the Democratic Republic of Congo. Part B will present the evidence and information regarding the IMF and the effect it had on the Democratic Republic of Congo under Mobutu. Part C will analyze two of the sources referred. Part D will analyze the findings, and Part E will conclude this internal assessment. Instead of lowering the national debt by loaning money, the IMF has inflated the debt because Mobutu stole the money from the people, which lead to an economic collapse. Part B: Summary of Evidence The IMF was created towards the end of the Second World War, and its goal was to rebuild countries’ national economies that suffered a loss by isolating themselves. “During the Great Depression of the 1930s, countries attempted to shore up their failing economies by sharply raising barriers to foreign trade, devaluing their currencies to compete against each other for export markets, and curtailing their citizens' freedom to hold foreign exchange. These attempts proved to be self-defeating.” (Cooperation and reconstruction (1944–71)) The IMF encourages free trade, and advocates for trading without restrictions. Although the IMF began taking shape in 1944, the ... ... middle of paper ... ....co.uk/programmes/b03cwn1m http://en.wikipedia.org/wiki/Democratic_Republic_of_the_Congo http://www.peri.umass.edu/fileadmin/pdf/ADP/Congo_s_Odious_Debts_01.pdf http://www.hks.harvard.edu/fs/drodrik/Growth%20diagnostics%20papers/DRC_Growth_Diagnostic.pdf http://www.modernghana.com/news/219270/1/imf-and-world-bank-agents-of-poverty-or-partners-o.html http://www.imf.org/external/about/histcoop.htm http://www.princeton.edu/rpds/papers/WP_67.pdf http://www.imf.org/external/np/sec/memdir/memdate.htm http://www.globalization101.org/the-international-monetary-fund http://www.spartacus.schoolnet.co.uk/COLDmobutu.htm http://www.forbes.com/sites/mfonobongnsehe/2011/11/08/who-were-africas-richest-dictators/ http://www.open.ac.uk/personalpages/j.hanlon/3WQ_illegitimate_debt.pdf http://www.worldbank.org/en/country/drc/overview The Crisis in Zaire: Myths and Realities

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