scholarly journals IMF Conditionalties And Feminization Of Poverty

2010 ◽  
Vol 4 (1) ◽  
pp. 61-70
Author(s):  
Nafisa Bano ◽  
Naheed Abrar
Keyword(s):  
United Nations ◽  
International Monetary Fund ◽  
Developing World ◽  
Related Issue ◽  
Critical Studies ◽  
Feminization Of Poverty ◽  
Developed World ◽  
The Impact ◽  
The International Monetary Fund ◽  
The Imf

When the International Monetary Fund (IMF) was established as a part of United Nations (UN) System, it aroused hopes for the futures. The developed world in general and developing world in particular expected that the IMF would come for rescue during crisis times. However hopes turned into disillusionment, when IMF offered its conditionalities along with monetary help and assistance. Soon after, critical studies regarding IMF Conditionalities and their impact upon the receiving states proliferated all around. Unfortunately, the global debate about IMF Conditionalities neglected the effect of such conditionalities upon the women and it is only recently that the issue has been taken up for research and study. Clearly, need for serious and scholarly works is there. Keeping in view, this paper focuses on the impact of IMF Conditionalities on women. It, however, also deals with a related issue: Do the countries have to accept such conditionalities which might affect the women adversely?

Selected Decisions and Selected Documents of the International Monetary Fund, Forty First Issue Supplement

2021 ◽  
Author(s):  
Keyword(s):  
United Nations ◽  
International Monetary Fund ◽  
International Organizations ◽  
Executive Board ◽  
Second Amendment ◽  
Board Of Governors ◽  
The International Monetary Fund ◽  
Frequent Reference ◽  
Made In ◽  
The Imf

This volume is the Forty-First Issue of Selected Decisions and Selected Documents of the IMF. It includes decisions, interpretations, and resolutions of the Executive Board and the Board of Governors of the IMF, as well as selected documents, to which frequent reference is made in the current activities of the IMF. In addition, it includes certain documents relating to the IMF, the United Nations, and other international organizations. As with other recent issues, the number of decisions in force continues to increase, with the decision format tending to be longer given the use of summings up in lieu of formal decisions. Accordingly, it has become necessary to delete certain decisions that were included in earlier issues, that is, those that only completed or called for reviews of decisions, those that lapsed, and those that were superseded by more recent decisions. Wherever reference is made in these decisions and documents to a provision of the IMF’s Articles of Agreement or Rules and Regulations that has subsequently been renumbered by, or because of, the Second Amendment of the Fund’s Articles of Agreement (effective April 1, 1978), the corresponding provision currently in effect is cited in a footnote.

Poverty, Inequality, and the International Monetary Fund: How Austerity Hurts the Poor and Widens Inequality

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Thomas Stubbs ◽  
Alexander Kentikelenis ◽  
Rebecca Ray ◽  
Kevin P. Gallagher
Keyword(s):  
International Monetary Fund ◽  
Developing World ◽  
International Level ◽  
Policy Reforms ◽  
The Poor ◽  
Original Dataset ◽  
Socio Economic Development ◽  
Imf Programs ◽  
The International Monetary Fund ◽  
The Imf

Abstract Among the drivers of socio-economic development, this article focuses on an important yet insufficiently understood international-level determinant: the spread of austerity policies to the developing world by the International Monetary Fund (IMF). In offering loans to developing countries in exchange for policy reforms, the IMF typically sets the fiscal parameters within which development occurs. Using an original dataset of IMF-mandated austerity targets, we examine how policy reforms prescribed in IMF programs affect inequality and poverty. Our empirical analyses span a panel of up to 79 countries for the period 2002–2018. Using instrumentation techniques, we control for the possibility that these relationships are driven by the IMF imposing harsher austerity measures precisely in countries with more problematic economies. Our findings show that stricter austerity is associated with greater income inequality for up to two years, and that this effect is driven by concentrating income to the top 10% of earners while all other deciles lose out. We also find that stricter austerity is associated with higher poverty headcounts and poverty gaps. Taken together, our findings suggest that the IMF neglects the multiple ways its own policy advice contributed to social inequity in the developing world.

scholarly journals International Monetary Fund and Its Impact on the Financial System of Ukraine

2021 ◽  
Vol 10 (525) ◽  
pp. 298-304
Author(s):  
N. А. Plieshakova ◽  
◽  
O. S. Lialkin ◽  
Keyword(s):  
International Monetary Fund ◽  
Public Debt ◽  
Financial System ◽  
Economic Consequences ◽  
Scientific Article ◽  
Scientific Papers ◽  
Credit Programs ◽  
The Impact ◽  
The International Monetary Fund ◽  
The Imf

The proposed scientific article is devoted to the topical issue of the need for Ukraine’s cooperation with the International Monetary Fund. In the context of the growing socio-economic crisis phenomena in the world and taking into account the significant problems that have been taking place in the Ukrainian economy in recent years, it is advisable to assess the IMF’s impact on the financial system of Ukraine. The article is aimed at studying in-depth the key problems of Ukraine’s cooperation with the International Monetary Fund, covering the impact of loans granted to Ukraine from the IMF on the country’s financial system and developing possible directions and ways to ensure effective cooperation between Ukraine and the IMF for the future. In analyzing and generalizing the scientific papers of domestic and foreign scientists, the authors consider the views on strengthening the role of the International Monetary Fund, which is caused by the spread of COVID-19, analyze the key functions of the International Monetary Fund and criticism on the part of the IMF for servicing the economic and political interests of the countries that have the highest quota, and not those in need of financial assistance. The article considers the dynamics of Ukraine’s use of IMF credit programs, in particular: dynamics of borrowings and repayments by Ukraine of the borrowed resources from the IMF; credit programs within the framework of Ukraine’s cooperation with the IMF in 2014–2021; share of debt to the IMF in the external and total public debt of Ukraine; critical indicators of Ukraine’s public debt and economic consequences. Prospects for further research in this direction are finding ways to improve the debt policy strategy, as well as to implement a coherent strategy for managing the external public debt.

scholarly journals INTERNATIONAL MONETARY FUND AT THE PRESENT STAGE

2021 ◽  
Author(s):  
Oksana Hamova
Keyword(s):  
International Monetary Fund ◽  
Investment Strategy ◽  
Budget Deficits ◽  
Allocation Mechanism ◽  
Global Crisis ◽  
Intergovernmental Organization ◽  
Income Model ◽  
The Impact ◽  
The International Monetary Fund ◽  
The Imf

The article examines the evolution of the reform of the International Monetary Fund. It is noted that there are two large groups in the issue of reforming the International Monetary Fund. Proponents of the first group believe that the IMF as an intergovernmental organization is outdated and ineffective. Scholars of the second group emphasize the need for the existence of the Fund and emphasize its reform. The impact of the 2008 global crisis on IMF reform has been analyzed in detail. In September 2008, the global crisis entered a new phase, characterized by a rapid and significant exacerbation. With this in mind, the IMF has identified policy objectives, including the need to pay more attention to macro financial linkages, reform its lending instruments, analyze the Fund’s role in financing member states and its resources, and provide emergency financing to countries affected by the crisis. The global crisis of 2007–2009 led to the need to develop a new concept of development and operation of the Fund, to reconsider the principles of its operation. The essence of the IMF reform, which was launched in 2008 and continues to this day, was a revision of the Fund’s quota allocation mechanism and credit policy to better provide its members with credit in the face of budget deficits. The Fund’s management has concluded that the income model that the IMF has followed since its inception does not provide sustainable funding for the Fund. According to this conclusion, the Executive Board agreed on the following measures: to propose an amendment to the Articles of the Agreement on the expansion of the Fund’s investment powers, which would allow the Fund to pursue an expanded investment policy and adjust its investment strategy with best practices. It is noted that the IMF usually puts forward approximately the same package of requirements, which includes: privatization of large enterprises, liberalization of prices and foreign trade, tight monetary policy to stabilize the currency, stop subsidizing unprofitable enterprises, and minimize budget deficits by reducing social programs and tax increases, currency devaluation.

scholarly journals Practising what they Preach: Did the IMF and Iceland Exercise Good Governance in their Relations 2008-2011?

2013 ◽  
Vol 8 (1) ◽  
Author(s):  
Hjálti Ómar Ágústsson ◽  
Rachael Lorna Johnstone
Keyword(s):  
International Monetary Fund ◽  
International Institutions ◽  
Good Governance ◽  
The Past ◽  
The International Monetary Fund ◽  
The Imf

Between September 2008 and August 2011, the International Monetary Fund (IMF) and Iceland were engaged in cooperation under a stand-by agreement involving a loan from the IMF to Iceland of over 2bn USD. The IMF is one of a number of major international institutions that has been increasing its emphasis on good governance over the past two decades, in particular, emphasising the need for improved governance in debtor countries. In this paper, the authors review the extent to which principles of good governance were exercised in the interaction between the IMF and Iceland within the context of the stand-by programme.

scholarly journals Adding Fuel to Fire: How IMF demands for austerity will drive up inequality worldwide

2021 ◽  
Author(s):  
Nona Tamale
Keyword(s):  
Civil Society ◽  
International Monetary Fund ◽  
Low Income ◽  
Uneven Distribution ◽  
Vulnerable Groups ◽  
Health Crisis ◽  
Global Institutions ◽  
Briefing Paper ◽  
The International Monetary Fund ◽  
The Imf

The COVID-19 pandemic has dealt a huge blow to every country, and many governments have struggled to meet their populations’ urgent needs during the crisis. The International Monetary Fund (IMF) has stepped in to offer extra support to a large number of countries during the pandemic. However, Oxfam’s analysis shows that as of 15 March 2021, 85% of the 107 COVID-19 loans negotiated between the IMF and 85 governments indicate plans to undertake austerity once the health crisis abates. The findings in this briefing paper show that the IMF is systematically encouraging countries to adopt austerity measures once the pandemic subsides, risking a severe spike in already increased inequality levels. A variety of studies have revealed the uneven distribution of the burden of austerity, which is more likely to be shouldered by women, low-income households and vulnerable groups, while the wealth of the richest people increases. Oxfam joins global institutions and civil society in urging governments worldwide and the IMF to focus their energies instead on a people-centred, just and equal recovery that will fight inequality and not fuel it. Austerity will not ‘build back better’.

From IMF Poster Child to Wayward Student

2019 ◽  
pp. 185-193
Author(s):  
Jerome Roos
Keyword(s):  
United States ◽  
International Monetary Fund ◽  
Financial System ◽  
The United States ◽  
Fiscal Discipline ◽  
Enforcement Mechanism ◽  
International Financial System ◽  
The International Monetary Fund ◽  
The Imf

This chapter considers why the International Monetary Fund (IMF) did it not prevent Argentina's record default of 2001. It suggests that the IMF was both unable and unwilling to stop it. While the second enforcement mechanism of conditional IMF lending was initially fully operative, helping to enforce Argentina's compliance in the first years of the crisis, the outcome of the megaswap greatly reduced the risk of an Argentine default to the international financial system. Combined with mounting domestic opposition in the United States to further international bailout loans, this greatly weakened the IMF's capacity to impose fiscal discipline on Argentina, eventually leading the Fund to pull the plug on its own bailout program, causing the second enforcement mechanism to break down altogether. The chapter recounts the process through which this breakdown occurred.

Argentina and the IMF in Turbulent Times, 1976–1984

2017 ◽  
Author(s):  
Stephen C. Nelson
Keyword(s):  
International Monetary Fund ◽  
Sovereign Default ◽  
Military Junta ◽  
Turbulent Times ◽  
Economic Beliefs ◽  
The Military ◽  
The International Monetary Fund ◽  
Economic Policymaking ◽  
The Imf

This chapter examines Argentina's relationship with the International Monetary Fund (IMF) during the period 1976–1984. It tracks Argentina's engagement with the IMF from the arrival of a Fund mission soon after the military junta took power in 1976 through to the economic meltdown in the last months of 2001, which culminated in the withdrawal of IMF support for the country and the largest sovereign default in history to that point. The Argentina-IMF case is used to test the argument linking treatment of borrowers to shared economic beliefs. The chapter first provides an overview of economic policymaking in Argentina in 1976–1981 and in 1991–2001; economic policymaking in the latter period was dominated by neoliberals. It also compares the economic beliefs of neoliberals with those of structuralists and concludes with a discussion of the breakdown in Argentine-IMF relations.

20. International organizations in world politics

2016 ◽  
Author(s):  
Susan Park
Keyword(s):  
International Relations ◽  
United Nations ◽  
Case Studies ◽  
International Monetary Fund ◽  
International Organizations ◽  
World Politics ◽  
Democratic Deficit ◽  
The United Nations ◽  
The International Monetary Fund

This chapter examines the role that international organizations play in world politics. It explains what international organizations are, whether we need international organizations in international relations, and what constraints and opportunities exist for international organizations to achieve their mandates. The chapter also considers the reasons why states create international organizations and how we can analyse the behaviour of such organizations. Two case studies are presented: the first is about the United Nations Conference on Trade and Development (UNCTAD) and the G77, and the second is about the International Monetary Fund (IMF) and the interests of money-centre banks. There is also an Opposing Opinions box that asks whether international organizations suffer from a ‘democratic deficit’.

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