Monitors global economy and advises governments on how they could improve their economic situation - also gives loans to countries with economic problems
Based in the USA - led by USA and other developed countries
Less developed countries less influence over decisions
IMF loans are conditional - less developed country has to make changes - such as cutting regulation to make foreign investment easier - in order to receive the loan.
Intended to prevent poverty and so limit the spread of communism
Lent out large amounts of money after oil price rise in 70's
Promotes trade and employment
Only provides loans if it will prevent glibal economic crisis - international lender of the last resort
Draws financial resources from the quota subscriptions of member countries
Keeps track of the global economy and the member countries, lending to countries with payment difficulties and giving practical help to members
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