It's Time to change the IMF

Are there any true alternatives to the IMF? This could be a very difficult question to answer for a couple of reasons. First of because it is compromised of over 100 nations, it has the cash flow to be able to loan out money to countries. It is not like one country will be able to solely help other countries in need. The main thing stopping an alternative to the IMF is of course money. The IMF website says mission statement reads; [work to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.] The IMF needs to stay true to these values, and not be deterred by economic gains. When it goes to a country and loans them money, they say they are doing it for a noble cause. Why then are all the conditions and interest rates so high and ridiculous? It is because they want any way to make a profit. Let’s help these countries develop first, and later worry about paying back these loans. Of course one might say, why these countries are even asking for money. We have to remember that these countries are desperate and have no other aid afforded to them.

What I believe would help the IMF is not be so greedy for money. If they actually tried to help a county and not impose their will on them, more good would come out of it. We would not see all of the massive protests, we see about the IMF. Their mission and “goal” is a noble one, why not truly stick to it. When you go into a poor country where its people could not afford necessity like water, and raise the rates by 95% what good are you doing for that country? When we ask for a loan, we want to use it however we want. The bank looks at our credit and says yes or no or how much. Would you like it if the bank said you have to do this, that and the other as conditions of the loaned? Of course we have to follow their policy of when and how much to pay back the loan but more conditions would only make us go to another bank for a loan. These countries do not have another bank; the IMF is it for them. They should be able to get a loan, and repay it without conditions that only hurt their country.

What could make the IMF more effective would be to have discussion forums where the people of said country in need would be able to voice their opinion, and make their vote count. So they would actually play a role in the whole loan process. Enough is enough, when are we going to stop rich white individuals rule/control our world .It has not been working, let’s make a change in leadership, and see if our world actually gets better.
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