Anti- IMF The IMF is intended to coordinate international currency exchange, the balance of international payments, and national

accounts. One of the IMFs duties is to promote economic development in poor countries. They maintain a system of national accounts to keep track of the overall monetary position of each state, in other words the flow of money in and out. The IMF was first built to ensure economic and corporate sustainability in countries affected by the war, but does the IMF have underlying intentions? There is still lingering poverty in the global South, why is that? When making a loan agreement, the IMF tends to scrutinize economic plans and policies with holding loans until they are satisfied that right policies are in place. The conditionality agreements that follow these loans are most of the times painful toward citizens. A quote I heard in a video was Socialism for the rich and capitalism for the poor. Disadvantages: IMF demands inflation to be controlled- this requires reducing states spending and closing budget deficit. Theses drastic measures then spur unemployment and require subside of food and basic goods to be reduced or eliminated. Lending practices force developing countries to open up their markets to more powerful developed countries for foreign investments and free trade leading to free access to resources and raw materials. Rich countries dominate decision-making in the IMF as stated earlier the monetary position equals power which is determined by how much money each country pays into the IMFs quota system. Meaning their interest of put over the poor countries. The IMF also requires countries to eliminate assistance to domestic industries while providing benefits for multinational corporations - Small time business and farmer cannot compete in results in recycling poverty. Higher interest rates to stabilize the currency.

There are also many more disadvantages that come along with accepting an IMF loan agreement. (2) Examples of Nations 1. Africa - structural adjustment programs and other polices has resulted in cut back spending of government spending on basic services, incomes declined, poverty increased, and undermined its health. 2. Thailand one of the countries involved in the Asian crisis of 1997. They were required to by the IMF to pursue higher interest rates and tight fiscal policy to reduce the budget deficit and strengthen exchange rates. These policies then resulting in a recession with major unemployment. Conclusion People are award of the two sidedness that the IMF consist of, so called helping these poor countries and the not helping them by using the force of power.

Resources http://www.globalexchange.org/resources/wbimf/oppose http://rainbowwarrior2005.wordpress.com/2008/11/07/the-world-bank-and-imf-in-africa/ http://liverpoolstudentmedia.com/2011/10/the-effect-of-globalisation-imf-and-world-bank-economicpolicies-on-less-developed-nations/ http://www.economicshelp.org/blog/glossary/imf-criticism/