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Essay / Research Paper Abstract
A 5 page review of the criticism surrounding the IMF austerity plans that arose in the late 1990s. Some have questioned whether this approach was indeed justified as a form of "tough love". Others, however, have contended that it was in effect just a means for IMF to pull out of situation(s) and reallocate the blame when they realized that they had already lost control.
Page Count:
5 pages (~225 words per page)
File: AM2_PPimfAus.rtf
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Unformatted sample text from the term paper:
The IMF oversees the international monetary system and encourages orderly exchange relations
among its members by promoting exchange stability (Womens International Network, 1998). As one of a handful of global institutions charged with regulating the process of globalization (through the stabilization
of economics in this case), the IMF has had many successes. It has also had many failures, however. The so called IMF austerity plans that arose in the
late 1990s are one area where many have questioned the IMFs intent. Some have questioned whether this approach was indeed justified as a form of "tough love". Others,
however, have contended that it was in effect just a means for IMF to pull out of situation(s) and reallocate the blame when they realized that they had already lost
control. In theory the IMF serves as a protective buffer for its member countries in that it steps in with short-term to medium
term credits when those countries experience payment difficulties (Womens International Network, 1998). Special Drawing Rights (SRDs) are allocated by the IMF to supplement the currency reserves of its members
(Womens International Network, 1998). Membership in the IMF is composed both of industrial and developing countries (Womens International Network, 1998). Some of these countries, as might be expected,
have faced more difficult economic imbalance than have others. In 1998 there were 180 member countries in the IMF (Womens International Network, 1998).
Obviously, protecting the interests of the poor is often more difficult in developing countries than it is in already developed countries. The chasm between properly matched public policies and
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