“The International Monetary Fund is established and shall operate in accordance with the provisions of this Agreement as originally adopted and subsequently amended” asserts the first clause of the Articles of Agreement. Set up after the Second World War as a response to the world currency failures of the 1930s, the International Monetary Fund was designed to help countries meet their Bretton Woods obligations of fixed currency rates (Jim Roger, 2010).
After 1971, and the leave of the Bretton Woods accords, the IMF found itself with little to do. Currencies were now free floating, so its bureaucracy reinvented itself as the savior of developing countries' monetary crises.
Naturally, its role has changed through time but it stayed in the same sort of ideal: the fund now concentrates its ability on helping countries from the Third World instead of European countries.
The IMF has been created in order to resolve and regulate worldwide economy, so in a first time it would be interested to explain the reason of the appearance of this organization. In a second time I will explain the purpose and the work down by the organization. To conclude, I will describe the limits and problems related to this organization and its future evolution
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