International Monetary Fund (IMF) Overview

International Monetary Fund (IMF)

• The main goal of the IMF is to promote global monetary cooperation, exchange rate stability, and provide temporary financial assistance to countries facing economic crises.

IMF's Role in Economic Crises

• The IMF plays a crucial role in assisting countries facing economic crises by providing financial assistance, policy advice, and technical assistance to help them recover.

IMF Surveillance

• The IMF achieves its goal of surveillance by monitoring its member countries' economic policies, providing early warning systems for potential crises, and promoting international cooperation and coordination.

World Bank Goals

• The main focus of the World Bank's goals by 2030 is to end extreme poverty and promote shared prosperity.

US Threat to Block Loans

• The US threatened to block loans to the Philippines if it proceeded with its plan to close American military bases in the country.

Global Lender of Last Resort

• The IMF serves as a global lender of last resort to prevent credit crises in individual countries by providing temporary financial assistance.

Bretton Woods Meeting

• The Bretton Woods meeting in July 1944 was a conference where the IMF and the World Bank were established to promote international monetary cooperation and exchange rate stability.

Post-War Reconstruction

• The World Bank was responsible for funding post-war reconstruction projects.

World Bank Loans to the Philippines

• The World Bank started granting loans to the Philippines in the 1950s.
• The primary goal of the World Bank's loans to the Philippines between 1989 and 1992 was to support the country's economic recovery and development.