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Essay / Research Paper Abstract
A 6 page paper discussing the performance of the
International Monetary Fund. In a time when the current role and even the continued
existence of the IMF is questioned with increasing frequency and exuberance, news that the
IMF generally hands over millions without requiring accountability for the disbursement of
funds is disturbing at best. The usefulness and ultimate agenda of the IMF increasingly
comes under fire, and apparently for good reason. Three points of controversy -
conditionality, mission creep and the question of abolishing the IMF - are discussed here.
Bibliography lists 11 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSIMFMcQ.rtf
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Unformatted sample text from the term paper:
the same manner as the International Monetary Fund (IMF) handles its dealings with governments of the world receiving benefits from it, the Federal Reserve and the FBI likely would physically
storm the institution and oversee the locking of the doors themselves. Prison sentences would follow. In a time when the current role
and even the continued existence of the IMF is questioned with increasing frequency and exuberance, news that the IMF generally hands over millions without requiring accountability for the disbursement of
funds is disturbing at best (Cohn, 1999). The usefulness and ultimate agenda of the IMF increasingly comes under fire, and apparently for good reason. The International Monetary Fund--Financial
Medic to the World?: A Primer on Mission, Operations, and Public Policy Issues edited by Montgomery and McQuillan (1999, Hoover Institution Press) lists several points of controversy. Three -
conditionality, mission creep and the question of abolishing the IMF - are discussed here. Conditionality
Superficially, the IMFs explanations of conditionality are sound and appear to be grounded in common sense. "Conditionality seeks to ensure that the members policies are adequate to achieve a
viable balance of payments position and sustainable economic growth over a reasonable period" (IMF, 2000; p. pam45). Existing guidelines have been in place since 1979. They were reviewed
by the IMF in 1994 and were proclaimed to be applicable to todays world (IMF, 2000). Conditionality is the process by which IMF
staff assess internal policies that ostensibly could affect the nations ability to sustain a market economy should that nation receive assistance in establishing a market economy. The consultant role
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