Positive Views of the Imf

2419 WordsFeb 3, 201110 Pages
Positive views of the IMF Is there any harder job than regulating all of the international markets money? Probably not, the topic being discussed throughout this essay will be the international monetary fund and its involvement in the international market. Much has been said about the I.M.F whether it is positive or negative, neo-Marxist Che Guevara said “The interests of the IMF represent the big international interests that seem to be established and concentrated in Wall Street.” Here he criticizes how the IMF is considered to be run by the United States which occupies a veto power in the decision making at the IMF, this is important to see because it brings up the other side to the IMF, the side that is not so positive and the…show more content…
The two hundred fifty basic votes were meant to give a chance to the countries who have just became members or were not largely developed, it was also intended so that countries were not entirely able to buy their voting power, as do most people perceive the United States did to gain its so-called Veto power. Gold (1972) brings a quote from an unstated source that brings up the argument of why all countries do not have the same amount of voting power. It is said that it would be unwise to have small countries have the same voting power as the larger ones, since it is for sure that there will be more small country members than there are large. Contrary to that point, he says that it would be unfair to give voting power on the solemn basis of how much money they put in. Although the exact figures of recent years are unavailable, the effect of the basic votes were quite visible in the 70’s, where 37 countries of the 137 members of the fund had basic votes that accounted for half or more of their total voting power (Gold, 19). The counter argument this type of voting formula could be that it resembles to much a private corporation, yet evidence shows that it has help the small countries to at least attain a sufficient amount of votes. People are very likely to pre-judge the outcome of a certain event, even without waiting to see what will happen in the end. This can also be the case for views against the IMF,
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