The International Monetary Fund ( Imf )

1089 WordsNov 29, 20165 Pages
The International Monetary Fund (IMF) was established in 1946, along with the World Bank. The IMF was developed to promote all monetary cooperation and remedy economic problems incurred during the post - war reconstruction period (Baylis; 2008: 245). The IMF was therefore considered as the “rule keeper” and an important component in public international management. In the pursuit to stabilise the exchange rate system, the IMF reserves the authority to change exchange rates. Another vital role is control over the balance of payments deficit of states and governing the policies which affect states monetary systems (Spero; 1990: 33). However, since the 1980 's, the IMF 's role has settled into the position of an institution providing assistance, based on financial situations, to developing countries. In order for countries to receive any assistance, the governments of those countries must agree to certain conditions set out by the IMF and the World Bank which permits the implementation of specific reforms provided by these institutions (Baylis; 2008: 245). A PROJECT OF THE WORLD BANK OR IMF THAT CREATED PROBLEMS FOR THE NATIONS THAT RECEIVED IT (COTE D’IVOIRE) After two decades of economic growth starting in 1960, Cote d’Ivoire experienced economic decline in the 1980s due to falling world prices for coffee and cocoa, its main exports. The country came under World Bank/IMF
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