International Monetary Fund

Argentina is a well known case study of the failure or negative outcome of some IMF's standard policies. In fact, Argentina carefully applied policies dictated by IMF, but, until it stuck up with those policies, it couldn't step out from its crisis, and it ran into even deeper economic and social problems. This failure of the IMF has often been cited as the demonstration of unsuitability of the standard IMF approach (the usual so-called Washington Consensus) for solving economic crisis in developing countries (Serra & Stiglitz, 2008, p. 44). Also, this failure led to hostile feelings versus IMF among the population of Argentina (Kanenguiser, 2000) and fueled generalised suspects over IMF decision-making process being politicized and serving

The word bank and IMF are the two main global financial institutions that lend money to various developed and developing countries. According to Wolff (2013) these institutions came into being in 1944 after the Bretton woods conference to establish a firm global economy after the world war two. The purpose of these institutions was to stimulate a stable development and offer unconditional loans to nations in economic crisis so as to achieve their developmental needs (Wolff, 2013). However, these never saw the daylight, due to pressure experienced from the US legislatures, also known as the ‘‘Washington Consensus’’ which as a result led the IMF and World Bank to lend money with harsh conditions.

The IMF has 185 member countries; their work mainly consists of monitoring and advising countries on exchange rates,

Since then, the IMF’s power and influence as an organisation increased even more after the collapsed of the global monetary rules it was assigned to oversee (Bretton Woods System). In February 1973, when the United States and the world abandoned the short-lived Smithsonian agreement, the entire attempt made to maintain the Bretton Woods fixed exchange rate system collapsed. The world returned to market-determined free exchange rates, the very system the IMF was established to

The International Monetary Fund (IMF) seeks to "…foster global growth and economic stability," according to its Overview in the IMF web site. The IMF doesn't just loan money, it also provides "policy advice" along with financing to those members (among its 188 member countries) that are experiencing "economic difficulties" (www.IMF.org). Cooperation between IMF and its member nations is the key to being able to reduce poverty and stabilize economies, the IMF explains. Though the IMF is a "specialized agency of the United Nations," it has its own structure, policies and charter, and one of its most important tasks is to alert any of those within its 188-country membership about potential "…risks on the horizon" that could create financial problems down the road (www.IMF.org).

IMF and the World Bank were created after World War II. Rebuilding nations after the war was costly and this burden needed to be shared amongst nations. With global adherence in its agenda, UK and USA proposed the International Monetary Fund and the World Bank to help prevent nation in this rebuilding process. Having just experienced the Great Depression, they wanted a policy to help nations in certain crisis.

Furthermore, critics say; “the IMF frequently argues for the same economic policies regardless of the situation.” (Pettinger, 2008) The IMF blindly imposed the same “conditionality’s” to all its loans. What policies might have worked for one country might make matters even worse in others.

In September 23, 2003, the World Bank Group and the Board of Governors of the International Monetary Fund (IMF) meet in Dubai to discuss the work of their respective institutions in international monetary and development issues. This meeting was worth its high expense when the discussion were centered on these institutions ' own reform rather than on how they should intervene in developing countries.

“So Far International Monetary Fund (IMF) Has Been Failed to Curve Corruption, Reduce Public Spending and Develop Macroeconomic Policies.”

The IMF is an organization made up of 188 nations all working together to ensure global monetary security and financial stability while promoting international trade and sustainable economic growth.

The IMF is currently accountable to and governed by 189 countries, all of which play a part in delivering its primary goals of “promoting international financial stability and monetary cooperation, through its activities of Surveillance, Financial, and Technical Assistance.” (Imforg, 2016)

As an outcome of neoliberalism circumstances set by global institutions, such as the World Bank and International Monetary Fund (IMF), many nations have been in debt and in poverty since they

Because of the erosion of the foreign exchange especially in terms bauxite and alumina export, the money from the IMF can be used to pay for things like food and oil if the country cannot find enough of its own money to pay for them.

The International Monetary Fund (IMF) describes its mission as working "to foster global growth and economic stability." The IMF provides "policy advice and financing to members in economic difficulties, and also works with developing nations to

The International Monetary Fund (IMF) was one of the many international organizations that emerged after the end of World War II. The primary function of the IMF is to promote the international financial stability and spur monetary cooperation. Many countries see the IMF as a “lender of last resort” (Thacker, 1999:38), meaning countries borrow money from the Fund for “short-term balance of payment support” (Steinwand and Stone, 2007:11) in order to avert the collapse of their domestic economies. Many of the loan programs offered by the IMF are accompanied by the terms commonly known as conditionality. IMF conditionality is a set of intensive fiscal and monetary policy reforms that must be implemented by the borrowing country. An important question often raised in connection with IMF imposed conditionality is whether such programs are effective and they work to enhance the economic situation of the developing country. In this paper, I argue that there are mixed results regarding the IMF program effectiveness, and the success of IMF lending program does depend on domestic factors of the borrowing country.