The international monetary fund IMF

• The IMF was created in 1945

  • To support an international system of FIXED EXCHANGE RATES -To help rebuild economies after world war ll
  • Now FUNDS ACTS more as  -MONEY LENDER for countries in desperate need
  • MONITORS-The economies of it's member state and the global economy in general
  • FUND has-184 members.
  • The size of a country economy determines  the amount of money that they allowed to request from the fund. Known as. -SPECIAL DRAWING RIGHTS
  • Similar to the WORLD BANK. meaning that the LARGER ECONOMIES can buy more share and so have  GREATER DECISION MAKING POWER
• CRITICISMS OF THE IMF

  • Criticized for giving RICH COUNTRIES to much control over it's decisions
  • Critics argue the RICH COUNTRIES USE IMF to put pressure on poor countries to reform their economies for the rich countries benefits (usually TRADE LIBERALISM)
  • They argue that the IMF'S POLICIES have worsened the financial crises in may poor countries and create greater poverty