The International Monetary Fund

(IMF ) was created beneath the Bretton Woods Conference in 1944 as a department at a lower place the United Nations Charter . The purpose for these multi farmingal organizations analogous the IMF and the World Bank are to provide loans to countries having pecuniary crisis at supposedly low amuse rates . even , umteen state of matters acqui expiration many external debts whereas the countries go under ripe reforms lock up not enabling to recover from the monies owe to these worldwide organizations planetary organizations much(prenominal) as the IMF , allow for under part countries to never recover from debt . Although , since the organization saki is to stabilize the currencies and the economies of other countries , it allows for the growing debt of those countries . When the IMF provides aid packages to countries tha t they have observe have not with with(p) anything to repair their current economic situation , the organization encourages tragic economic practices and policies (Pease , 2005 br. 211The two most important cases that the IMF has been under were the Mexico peso Crises and the 15 Billion Package aid for Indonesia in 2001 . During the Mexican peso crises , not only were the economy of Mexico at twine but also those who made up the NAFTA . The United States had a lot of loss during that time because Mexico could not afford to mollycoddle many imports from the United States . The IMF in both situations made the countries go so much into debt that had to ask sop up more bills therefore increasing national debt and supporting mismanagement of the nation s economy . In the long impart , the IMF produces political unstableness and the goals of democracy are just but an idea (Pease , 2005 br. 213When the IMF lets countries arrogate money , it plans a great deal of economic ref orms . Restrictions on labor , privatization! of state-own companies , and the cutting of subsidies , in the long stay the ones acquiring hurt are the everyday people .

International organizations such as the IMF , World Bank and WTO allow for the industrialize nations to belt ammunition under develop countries resulting in unequal bias incumbrance and the debt of many nations , never having the opportunity to develop . The IMF is in the interest of western capitalist countries and investors not in the interest of card-playing a country (Pease , 2005215To conclude , in the long run , these international organizations including the International fiscal Fund (IMF ) attend to red ink ideology in allowing for capitalist countri es to exploit under develop countries for their raw materials producing commodities , in which they over produce and later on absorb to less develop countries . If the IMF is supposedly trying to athletic supporter under develop countries , why has their reforms caused more harm than commodity ? In the end , what is the purpose of the IMF , to help western economies or help the development of third world countriesReferencePease , Kelly-Kate S . developing : International Organizations Perspectives on Governance in the Twenty-First hundred . minute of arc Edition New Jersey : scholar Hall , 2003 : pp . 210-215International Monetary Fund PAGE 1...If you want to take aim a full essay, order it on our website: OrderEssay.net

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