The IMF

what does the international monetary fund do

Provides financial assistance and advice to countries facing economic instability

And monitors countries economies

how many members does the IMF have

191

what do the members of the IMF do

contribute to a pool of money which members with a payment imbalance can borrow from on a temporary basis 

how did the IMF help with the 2008/2009 global financial crisis

they sold some of their gold reserve at the London G20 summit

why might member states with payment imbalances request loans

to help cover the difference of money they have and the amount needed to operate

what are the criticisms of the IMF

• often delayed response to crises

• mostly controlled by western nations as they contribute the most money

• they support undemocratic regimes unconcerned with human rights

what does the IMF stipulate a country must follow in exchange for loans

A structural adjustment program

what is a Structural Adjustment Programs - SAP

economic policies countries must implement to stabilise their economy

what did most of the member countries experience from 1980-90 due to the SAP conditions of IMF loans

increased unemployment and poverty

decreased food production

growth in debt causing cuts in social expenditures over time

how much has the IMF given Brazil since 1960

$50b

what did the money given to Brazil do for them

nothing

their economy was unable to grow sustainably due to large debt

how much of brazils population remains poor (even after receiving the loan)

40%