An Example Of The Imf

1621 Words Jan 7th, 2016 7 Pages
An example of the IMF’s ability to promote strong, stable economies is the case of Jordan. In the 1980s the declining oil prices and the related recessions in the Middle Eastern oil exporting countries was disadvantageous to Jordan. In 1989 Jordan had a 30-35 percent unemployment rate and was having a hard time due to their external debt. This led the authorities to request the country’s first arrangement with the IMF. Economic reforms were a part of the agreement between Jordan and the IMF. Jordan agreed to a series of five year reforms financed by the IMF, therefore the government took on huge reforms prioritizing foreign investment and easier trade policies. They were ultimately able to reduce the overall debt payment up to a manageable level. Jordan is currently regarded as a country by which the effectiveness of the IMF assistance is assessed.
Despite all success the UN and IMF have achieved, both of these organizations have been subject to a great deal of criticism. The UN has often been criticized for being ineffective and biased. Sanctions are only effective if all countries follow them. The military force is rarely used and are usually ineffective. The UN is inadequately funded by the member states and a huge gap between the industrialized and developing countries remains.
One of the greatest failures of the UN has most certainly been the genocide in Rwanda. In 1994, the majority of the Rwandan population was Hutus and the rest were Tutsis and a small number of…
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