Monetary Fund And The World Bank - 1554 Words

nternational Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these international financial power institutions are geared towards moving resources from the poor countries to the rich western countries. The end result is creating a situation where the poor countries sunk into more economic suicidal condition in which they have to still depend on more loans or aids to survive and they would have to comply with any condition attached to the help, due to the urgent need of support. As history goes, the International Monetary Fund and its fraternal institution, The World Bank were created in 1944 after the second world war to rebuild Europe and its surrounding poor western countries. As stated â€Å"The Bank s first loans were extended during the late 1940s to finance the reconstruction of the war-ravaged economies of Western Europe†(Driscoll, 1996). But these funds were later extended to other poor countries who may need help with a boost in economy. This is what later became of the world bank s responsibility towards lending helping hand to poor countries. The IMF website state that â€Å"TheShow MoreRelatedThe World Bank And The International Monetary Fund1505 Words   |  7 Pagesclear Example, discuss the role and influence of The World Bank and the International Monetary Fund in the developing countries of Europe. Submission Date and Time: Monday 15 February 2016 before 3pm Word Count: Introduction What is the World Bank and the International Monetary Fund? The World Bank is an important source of financial and Technical help to countries that are still developing around the world. They are not a bank in a normal sense but instead is a partnership to helpRead MoreInternational Monetary Fund And The World Bank1679 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreInternational Monetary Fund And The World Bank1561 Words   |  7 PagesTHE WORLD BANK AND IMF - HIPC International Monetary Fund and The World Bank, though has a good purpose of their existence, they have come under lots of criticisms as to how they use the leverage of being in a position of helping poor countries to either recover from economic collapse or give them debt relief and economic boost from loans they give out to them to impose policies and condition that those poor countries has to implement. These loan conditions and policies structured by these internationalRead MoreThe International Monetary Fund And World Bank Group1644 Words   |  7 PagesThe International Monetary Fund and World Bank Group The International Monetary Fund (IMF) and the World Bank have had enormous impact upon the world’s economies since their inception, after World War II. Although each of these organizations has a similar history, their role, objectives and funding are unique. These Washington DC-based organizations have drawn more than their share fair share of criticism as well as praise. Modern nations require thoroughly understand of these organizations. TheRead MoreInternational Monetary Fund : The Imf And The World Bank1252 Words   |  6 PagesThe International Monetary Fund, otherwise known as the IMF and the World Bank are two of the most economic organizations. While they are both economic organizations, they have different objectives. In order to understand these objectives, one must know why these organizations were formed and what if anything they have accomplished. Based on said accomplishments and also based on their initial goals, one can infer which of the two has been a succe ss. Therefore, it can be said that when it comes toRead MoreInternational Monetary Fund ( Imf ) And The World Bank948 Words   |  4 PagesInternational Monetary Fund (IMF) and the World Bank†. The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996. In 2001 Ghana declared itself as heavily indebted poor country, according to the then president John Agyekum Kuffour, the decision of Ghana to be part of this initiative was mainly because of the poor state of the economy. As a result of this the nation was expected to receive a total of 253 million dollars of IMF and the World Bank to help relieveRead MoreThe International Monetary Fund And The World Bank Were1419 Words   |  6 PagesThe International Monetary Fund and the World Bank were formed at the Britton Woods Conference in New Hampshire, United States, in 1944. They were designed as the mainstay of the post-war global economic order. The World Bank s focus is the provision of lon g-term loans to support development projects. The IMF concentrates on providing loans to stabilize countries with short-term financial crises Critics of the World Bank and IMF have argued that policies implemented by African Countries, intendedRead MoreInternational Monetary Fund ( Imf ) And World Bank1251 Words   |  6 PagesInternational Monetary Fund (IMF) and World Bank are both international financial institutes that where formed in July 1944 by the United Nation in Bretton Woods, United States. They are sometimes referred to as The Bretton Woods Institutes. They are both landers of last resort and they both offer loans and help countries design policy programs to solve balance of payments problems when sufficient finance cannot be obtained by the country. IMF offers short and medium term loans whilst World Bank offersRead MoreThe Role Of International Monetary Fund And The World Bank Positions3698 Words   |  15 Pagesinternational organizations all could be a complex function in terms of the World problems. This essay discusses the role of the International Monetary Fund and the World Bank positions in the World life. The essay will reflects the two organizations purposes, also provide an inside to the operation system, decision making, structure and shows some example for the failure or success of the institutions. Finding International Monetary Fund (IMF) aims to maintain and defeat and sometimes to restrain the financialRead MoreHostility Against the World Trade Organization, International Monetary Fund, and World Bank804 Words   |  3 Pagesï » ¿Hostility against the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank Far from being seen as objective entities, the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank are often conceptualized as instruments of the developed world. It is alleged that they are used to enforce crippling economic policies upon the developing world. To some extent, it is perhaps inevitable that these international institutions are seen as such. The memory