Published on October 15, 2014
1. THE IMF INTERNATIONAL MONETARY FUND
2. What is the IMF? • It is a global economic institution for helping developing countries.
3. THE International Monetary Fund managing director, Christine Lagarde
4. Fast Facts on the IMF • Membership: 188 countries • Headquarters: Washington, D.C. • Executive Board: 24 Directors representing countries or groups of countries • Staff: Approximately 2,600 from 142 countries • Total quotas: US$362 billion (as of 8/28/14) • Biggest borrowers (amount outstanding as of 8/28/14): Greece, Portugal, Ireland, Ukraine • Biggest precautionary loans (amount agreed as of 8/28/14): Mexico, Poland, Colombia, Morocco
5. THE GOAL OF IMF • To help developing countries to stabilize their economies.
6. How does the IMF work? • Developed countries make loans to developing counties but the IMF is facing criticism for how it makes loans
7. How does the IMF make loans? • The IMF lends money to developing countries but with conditions. • Examples of conditions : • Cuts in education, health, cuts of public services in general. • These conditions forces developing countries to adopt unpopular policies
8. CONDITIONALITY • The conditions and adjustments that governments agree to when they seek loans from the IMF and the World Bank
9. IMF DEVELOP COUNTRIES • Voting rights • Make loans • Conditionality (conditions to the loans) DEVELOPING COUNTRIES • Take loans • Use the funding to build roads and schools and invest in their people. • They struggle under the weight of all their loans. • They seek loan forgiveness or debt relief
10. VOTING SYSTEM • Developed countries have greater voting rights because voting is weighted based on contributions to the IMF. • QUOTA: How much money countries are obligated to provide to the IMF. This also determines their voting power in the IMF.
11. Crititicism • Conditionality • Voting system
12. QUOTAS http://www.imf.org/external/np/sec/memdir/m embers.aspx
13. VOCABULARY • Balance of payments • Revenues • Expenditures • GDP (Gross domestic product) • Loan • Budget surplus • Budget deficit • Borrower (donor country) • Creditor (debtor country) • Debt • Lend, lender • Currency
14. ISSUES DELEGATES MUST ADDRESS • Conditionality • Loan forgiveness • Voting system
15. SOURCES www.imf.org/external/np/exr/facts/howlend.ht m www.imf.org/external/about.htm www.imf.org/external/np/exr/key/lending.htm www.imf.org/external/np/key/quotav.htm www.imf.org/external/country/index.htm
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