For this reason, the IMF trains its field operatives very rigorously in the ways of stealth, deception, persuasion and the art of "invisibility. Conditionality also reassures the IMF that the funds lent to them will be used for the purposes defined by the Articles of Agreement and provides safeguards that country will be able to rectify its macroeconomic and structural imbalances. In the context of the European debt crisis , some observers noted that Spain and California, two troubled economies within Europe and the United States, and also Germany, the primary and politically most fragile supporter of a euro currency bailout would benefit from IMF recognition of their leadership in green technology , and directly from Green Fund-generated demand for their exports, which could also improve their credit ratings. Check date values in: Markets Show more Markets links.
The clout of member states is roughly proportional to its contribution to IMF finances. The United States has the greatest number of votes and therefore wields the most influence.
Domestic politics often come into play, with politicians in developing countries using conditionality to gain leverage over the opposition to influence policy.
The IMF is only one of many international organisations , and it is a generalist institution that deals only with macroeconomic issues; its core areas of concern in developing countries are very narrow.
Jeffrey Sachs argues in The End of Poverty that the IMF and the World Bank have "the brightest economists and the lead in advising poor countries on how to break out of poverty, but the problem is development economics". He also notes that IMF loan conditions should be paired with other reforms—e. The scholarly consensus is that IMF decision-making is not simply technocratic, but also guided by political and economic concerns.
Reforms to give more powers to emerging economies were agreed by the G20 in Critics also claim that the IMF is generally apathetic or hostile to human rights, and labour rights. The controversy has helped spark the anti-globalization movement. An example of IMF's support for a dictatorship was its ongoing support for Mobutu 's rule in Zaire , although its own envoy, Erwin Blumenthal , provided a sobering report about the entrenched corruption and embezzlement and the inability of the country to pay back any loans.
Arguments in favour of the IMF say that economic stability is a precursor to democracy; however, critics highlight various examples in which democratised countries fell after receiving IMF loans. A study found no evidence of IMF lending programs undermining democracy in borrowing countries. A number of civil society organisations  have criticised the IMF's policies for their impact on access to food, particularly in developing countries. We need the World Bank, the IMF, all the big foundations, and all the governments to admit that, for 30 years, we all blew it, including me when I was president.
We were wrong to believe that food was like some other product in international trade, and we all have to go back to a more responsible and sustainable form of agriculture. The FPIF remarked that there is a recurring pattern: A study concluded that the strict conditions resulted in thousands of deaths in Eastern Europe by tuberculosis as public health care had to be weakened.
In the 21 countries to which the IMF had given loans, tuberculosis deaths rose by How the IMF has Undermined Public Health and the Fight Against AIDS , claimed that the IMF's monetarist approach towards prioritising price stability low inflation and fiscal restraint low budget deficits was unnecessarily restrictive and has prevented developing countries from scaling up long-term investment in public health infrastructure.
In , the IMF's research department published a report titled "Neoliberalism: IMF policies have been repeatedly criticised for making it difficult for indebted countries to say no to environmentally harmful projects that nevertheless generate revenues such as oil, coal, and forest-destroying lumber and agriculture projects. Ecuador, for example, had to defy IMF advice repeatedly to pursue the protection of its rainforests , though paradoxically this need was cited in the IMF argument to provide support to Ecuador.
The IMF acknowledged this paradox in the report that proposed the IMF Green Fund, a mechanism to issue special drawing rights directly to pay for climate harm prevention and potentially other ecological protection as pursued generally by other environmental finance. While the response to these moves was generally positive  possibly because ecological protection and energy and infrastructure transformation are more politically neutral than pressures to change social policy.
In the context of the European debt crisis , some observers noted that Spain and California, two troubled economies within Europe and the United States, and also Germany, the primary and politically most fragile supporter of a euro currency bailout would benefit from IMF recognition of their leadership in green technology , and directly from Green Fund-generated demand for their exports, which could also improve their credit ratings.
Both Lagarde and her two predecessors Strauss-Kahn and Rato have been investigated by the authorities and have either faced trial or are scheduled to go on trial for a variety of offences.
Lagarde had been accused of giving preferential treatment to businessman-turned-politician Bernard Tapie as he pursued a legal challenge against the French government. At the time, Lagarde was the French economic minister. Rato was arrested on 16 April for alleged fraud , embezzlement and money laundering. Life and Debt , a documentary film, deals with the IMF's policies' influence on Jamaica and its economy from a critical point of view.
Debtocracy , a independent Greek documentary film, also criticises the IMF. From Wikipedia, the free encyclopedia.
List of IMF people. For other uses, see IMF disambiguation. Headquartered in Washington, D. This section needs additional citations for verification.
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The spies expelled from the IMF are the most dangerous individuals to the agency, as they could easily expose secrets about the organization to any number of foreign and rogue governments.
Worst of all, as skilled as they are in playing grand-scale confidence games, they could easily entrap the most reliable operatives in such games and thereby compromise them. With continued success since the s, the IMF bears the brunt of today's international attacks, now focused on concealed entry and espionage. The missions keep growing harder and harder - but so do the agents. The IMF normally operates primarily by executing confidence tricks on its mission targets, sometimes with the aid of high-tech gadgets.
The agents are able to deceive their targets into cooperating with them without detecting a set-up until the mission is accomplished; by that time, the IMF personnel have already vanished from the scene. Trevor Hanaway 's identification card after the disavowal of the IMF. In a worst-case scenario during undercover missions in which its presence becomes known, the IMF can become a subject to disavowal under order from the President's fail-safe initiative, "Ghost Protocol.
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