Assess the role of the International Monetary Fund (IMF) in international politics and in influencing development in Latin America
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economics
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date published 24/07/2006
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Summary'The International Monetary Fund is established and shall operate in accordance with the provisions
of this Agreement as originally adopted and subsequently amended' asserts the first clause of the
Articles of Agreement which form the bond member states are attached to under the IMF.
The Fund is an international organisation created at the Bretton Woods Conference in July 1944.
Originally, the Articles of Agreement were signed by only 29 countries however now the IMF has
184 members. Its general role is to 'foster global monetary cooperation, secure financial stability,
facilitate international trade, promote high employment and sustainable economic growth, and
reduce poverty.' Naturally its has role changed through time but it stayed in the same sort of ideal:
the Fund now concentrates its ability on helping countries from the Third World instead of
European countries. Latin American countries are therefore one of the IMF's concerns since the
majority are still in the developing phase of their economy and often ask for credit and/or advice.
However Latin America, although one geographical area, has very different countries with very
different backgrounds: Brazil for instance is a regional power and has an immense surface compared
to Chile.
Table of Contents- The role of the IMF in international politics : its activities since its creation and the main critics it receives
- The economic crisis that occurred in Latin America: the world debt crisis in 1980 originating from Mexico, the 1990s crisis in Brazil and Peru and finally, in the 2000s
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