Question 10GS2GS2
Discuss the role of the International Monetary Fund (IMF) in the development of developing countries. What are the key criticisms associated with its approach? (Answer in 150 words)
Introduction
International Monetary Fund was setup as the result of Bretton Woods agreement for global financial stability
16 words
Main Body
IMF for developing nations
1Support during economic crises
(E) Support to Sri Lankan's economic crisis
2Supporting Balance of Payment issues
(E) BOP crisis of India in 1991
3Social development & financial development objectives
Issues of IMF
1Inradiate sway of US in the governance due to higher grade
2Sovereignty hampered due to conditionalities set by IMF (E) Exchange rate flexibility as condition in India in 1991
5Developing nations have lesser voice in the governance of IMF
4Rigid strategies followed by IMF for granting money (E) Pledging Foreign assets
(E) Poverty reduction goals (E) Pledging foreign assets
5Lack of success in ensuring turnaround (E) Continuing Venezuelan crisis
Hence IMF reforms should be on indicative agenda for global stability
124 words11 paragraphs
Conclusion
Hence IMF reforms should be on indicative agenda for global stability
11 words
Examiner score
0.9/10Open original scan
Page 24
Topper
Aditya Narayan H
AIR 68
Subject & Paper
GS2GS2
Topic
International Institutions, Agencies and Fora - Structure and Mandate
Important International Institutions
IMF role and criticisms
Writing Stats
151
Total words
11
Paragraphs
analytical
Tone