The international Monetary Fund

In July 1944, after the Great Depression, 45 countries gathered together to build a framework of economic cooperation between different countries. This was called the International Monetary Fund (IMF), and it was created to help prevent another vicious depression. In the 21st century, the IMF has continued to impact and help us. Some ways that it has impacted and helped us include its surveillance, its financial assistance, and its technical assistance.

Surveillance involves the monitoring of the economic and financial developments in different member countries. This allows the IMF to see how a particular country is doing economically. Through this surveillance, the IMF knows how to help any particular country. One main goal of this surveillance is to help prevent an economic crisis by catching it before it happens.

The IMF also helps member countries by offering financial assistance. It will lend money to countries with economic problems in the hopes of solving these problems. These loans are often aimed especially at poverty reduction. Also, when a country has some sort of disaster, money will be lent in emergency assistance to help clean up and fix the problem. This process of lending money to member countries has helped many countries to take care of financial problems that they would otherwise be unable to.

The IMF also provides member countries with technical assistance. This technical assistance is a big help in many different countries. It helps to boost the economy and it allows the countries to better take care of themselves. The IMF also helps with the training of workers to run the technology given to them.

The IMF fund has impacted many different countries in many different ways since its creation right into the 21st century. Three ways it has impacted these countries are through its surveillance techniques, its financial assistance, and its technical assistance. By doing these things, the IMF has helped us to avoid another Great Depression, and has helped us to solve many problems in this time of minor recession.