The International Monetary Fund Policies and developing countries

SEQ CHAPTER \h \r 1 The IMF and the Developing World

Abstract : This will deal with the past , present and future of the IMF relative to the third world and its specific economy problems . It deals with three main issues : the problems with IMF oversight , the politicization of the IMF and the irrelevance of the distinction between politics and economics at the global level

This will briefly analyze and evaluate the basic ideas and activities of the International Monetary Fund (IMF ) in their dealings with the Third Wold using a representative sample

of the mainstream academic literature on the subject . The basic argument here is that the IMF has a negative influence on the developing world , and only a fairly radical change in policy (or complete abolition ) will rectify this

The IMF , a famed part of the post-War Bretton Woods system of American economic and political hegemony , has several roles , roles that , it should be added , changed during the rather sudden series of de-colonization movements in Asia and Africa (Krasner , 1968 , 675 . The fact is that the IMF developed before there was a developing world , but since decolonization (basically completed by the mid 1960s , the IMF has taken on a substantial role in the global economy . Its job can be summarized this way (1 ) Its main role in the world economy is a basic and general oversight of the international monetary system . It is to ensure , to the greatest extent possible , the ly flow of currency , and the...