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Suvan SharmaAIR 148· 2024

Question 9GS3GS2

What are the key areas of reform if the International Monetary Fund (IMF) has to align with the current economic realities? (Answer in 150 words)

Open scan (p.22)

Main Body

The International Monetary Fund IMF is one of the two Bretton Woods institutions (other: being World Bank) which aims at helping countries coordinate/out of economic crisis [1991, India]. Current global downturn emerging global polarisation: food shortage [Ukraine-Russia War] [Decentralised finance] [cryptocurrency] Must National Corporations acting as 'super state' To face these current economic realities, following key areas

of reform need to be addressed: (1) Increased global participation in Governance 1.1 fer African countries (2) Addressing economic concerns emerging out of their issues fer GJ Economy (3) Sustainable financing 3.1 as response to debt trap diplomacy by China. (4) Addressing global financing issues of global problems like climate change 4.1 fer coordination with Paris Agreement & UNFCC secretariat bodies (5) Relaxing harsh conditions of conditionality to country (6) Addressing 'currency volatility' & issues of crypto-currency India has always been vocal of reforming multilateral organisations for reforming IMF can go a long way in realising & just financial world scenario

158 words1 paragraphs

Conclusion

India has always been vocal of reforming multilateral organisations for reforming IMF can go a long way in realising & just financial world scenario

24 words

Topper

Suvan Sharma

AIR 1482024

Subject & Paper

GS3GS2

Topic

Effect of Policies of Developed/Developing Countries and Indian Diaspora

International Relations

IMF reforms

Writing Stats

182

Total words

1

Paragraphs

analytical

Tone