The International Monetary Fund

(IMF ) was created beneath the Bretton Woods Conference in 1944 as a department low the United Nations Charter . The purpose for these multi farmingal organizations ilk the IMF and the World Bank are to provide loans to countries having pecuniary crisis at supposedly low amuse rates . even , umteen countrys acqui bolshy many external debts whereas the countries go under ripe reforms simmer down not enabling to recover from the monies owe to these worldwide organizations international organizations much(prenominal) as the IMF , allow for under part countries to never recover from debt . Although , since the organization care is to stabilize the currencies and the economies of other countries , it allows for the subjoin debt of those countries . When the IMF provides aid packages to countries that they have observe hav e not finished with(p) anything to repair their current economic situation , the organization encourages criminal 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 arm 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 befoul 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 much bills therefore increasing national debt and supporting mismanagement of the nation s economy . In the long impart , the IMF produces political imbalance and the goals of democracy are just but an idea (Pease , 2005 br. 213When the IMF lets countries adopt money , it plans a great deal of economic reforms . Restrictions on labor , privatization of state-own companies , and t! he cutting of subsidies , in the long wreak the ones occur hurt are the everyday people . International organizations such as the IMF , World Bank and WTO allow for the industrialize nations to happen under develop countries resulting in unequal bias interference 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 sporty 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 countries to exploit under develop countries for their raw materials producing commodities , in which they over produce and afterward absorb to less develop countries . If the IMF is supposedly trying to overhaul under develop countries , why has their reforms caused more harm than heartfelt ? In the end , what is the purpose of the IMF , to hel p western economies or help the development of third world countriesReferencePease , Kelly-Kate S . study : International Organizations Perspectives on Governance in the Twenty-First nose candy . minute of arc Edition New Jersey : learner Hall , 2003 : pp . 210-215International Monetary Fund PAGE 1...If you want to get a full essay, order it on our website: OrderEssay.net

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