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World monetary system and the role of IMF
Finance & Accounting
Pages 11 (2761 words)
The International Monetary Fund plays a major role in evolution of international monetary policies and economic policies of the governments of the member countries.
Also, there are resentments about the IMF’s interferences in the internal economic policies of the countries in matters related to opening up of industries to globalization, privatization of public sector companies, fiscal discipline, abolition of subsidies for narrowing down the budget deficits and reform processes. This paper seeks to review the role of IMF in world monetary system and the relevance of their policies under current developments in international economy. Since world monetary system is linked to world economy, the analysis covers its impact on world economy and the adequacy of the system to deal with the emerging challenges in relation to its objectives. Introduction “The International Monetary Fund (IMF) is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.” (IMF) In the backdrop of increasing globalization drive in various countries, technological developments, advent of internet and mobile telephony, the international trade has undergone significant changes over years. ...
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