7.4 IMF

Question 1

What do IMF do

Answer 1

Like the world bank, it lends money for development

But, primary role is to maintain international financial stability, stabilise currencies

Question 2

When was IMF established

Answer 2

1944

Question 3

Example of IMF work

Answer 3

Involved in Greek Debt crisis post 2008. From then on Greece was forced to cut back on government expenditure.

Backlash, protests

Question 4

Problem with IMF loans

Answer 4

In returns for loans it tries to force countries to privatise government assets to increase size of private sector and generate wealth

Question 5

Problem with IMF control

Answer 5

USA and EU dominate control