IMF and its role in economic crises

IMF and its role in economic crises Introduction: The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It has become an institution integral to the creation of financial markets worldwide and to the growth of developing countries. The IMF is responsible for the creation and maintenance of the international monetary system, the system by which international payments among countries take place. It thus strives to provide …

…economies. Also there has been a rising debate globally, about the low transparency levels of the Fund, with respect to accounts and allocation of the loan money. But what cannot be ruled out is the fact that the IMF is as important as any thing in the global economy and that it has tremendous potential, at a global level, to enable economies to resurrect in case of debacles or bridge the gap between disparate nations.