Graham Bird - 'IMF Lending to Developing Countries: issues and evidence', Chapter 1, Pages 1-12

International Monetary Fund (IMF) as originally established in order to encourage international co-operation to cope with recession and protectionism on a world scale and to discourage individual countries from pursuing policies that would beggar their neighbours and eventually themselves
1944 - Bretton Woods Conference: looked to generate benefits for international trade in the form of stable exchange rates
1970s saw the IMF accepting a new and more specific role: reflected the evolving balance of payments problems which developing countries encountered during the 70/80s
IMF involvement with developing countries included both a financing and an adjustment element
By late 1981 - most IMF lending was to the least developed countries
Lending to developing countries was a response largely due to outside events, the IMF did not orchestrate this response: except wanting to avoid a major international financial crisis as a consequence of debt
Question of whether developing countries warrant special treatment within the IMF has been wrestled with by the IMF for much of its history

	Criado por Annie May Jackson quase 11 anos atrás

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