In reality, the organization often uses only a small amount of money to make the very desperate march in line, at times this means not solving problems but helping to kick the can down the road. As to who and what the IMF is, we all know IMF stands for, the International Monetary Fund. It is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It is a way for rich nations like the United States to manipulate, redistribute or loan money to troubled nations without putting the issue out in the open. As an institution the IMF acts as a mechanism to stabilize the world economy, however many countries see it as merely a glorified mouthpiece for the worlds economic powers seeking stability.
|Many People See The IMF As An Unfriendly Enforcer|
|IMF Director Christine Lagarde|
The IMF is not limited to just dealing with America's neighbors but is currently involved in countries all over the world such as Cyprus, Tunisia, Argentina, Ireland, Greece, and many more. The rapidly changing economic landscape across the world has a way of creating the impression the IMF is putting out conflicting statements. Often their positions appear to be "all over the board" this leads me to believe that while the IMF tries to plug holes and put out fires, they are behind the curve. Part of the problem remains that no "single bullet" will fix all of the worlds economic ills. For example what recipe will allow Caribbean countries to deal with their various problems such as high debt and low growth, while at the same time strengthening their financial institutions. This means the IMF can only jump in and assist and their power is often rather limited.
|IMF Can Rescue Those In Trouble|
While director Christine Lagarde is popular the agency often lacks real solutions and answers for the worlds cash-strapped. Several years ago Lagarde while on the Jon Stewart Daily Show bragged and conceded how bad things were at the depth of the crisis and how they were forced to lie about it, this does wonders for my confidence in the system. Bottom line the IMF is generally behind the curve in our fast-changing world and simply a tool for rich countries to promote their agenda, simply put, the IMF does not have all the answers. While pushing and putting pressure on Europe from the bully pulpit, the IMF lacks the ability to solve really big problems like those facing the euro and what to do with Greece or about Italy's burgeoning debt.