Is The IMF Killing Us?
The IMF is short for the International Monetary Fund. The question we really need to ask ourselves though is, is it good for the world? Some may say yes, some may say no. It will vary depending on which side of the economic divide you fall.
Some people are not satisfied with the IMF’s policies. Many of them are also not satisfied with their effects on the economy, public health, and the environment. And even things that affect us directly such as loan rates and provisions on equity release schemes.
The way the world economy is right now, it’s hard to find the IMF beneficial whatsoever as it seems to only get worse. In the past the Fund has leant money to countries across the world, most of them developing or poor. The terms o those loans require dramatic adjustments to monetary policies and debt management which proved far too drastic for those countries to handle leading to even further debt and hardships.
I think that potentially it COULD be good for the world, but at this moment in time I find that it’s not very helpful at all, at least from my perspective. Now with the IMF, many nations feel the sole reason they are in debt or suffering from poverty is a direct cause of the IMF.
Currently people in Greece are demonstrating against their government seeking IMF and EU help, mainly because they know what it means in the long run. They believe there will be hardships ahead.
It’s these very things that turn people against the IMF. Until these issues are addressed, there won’t be too many happy campers out there when it comes to voicing opinions on the IMF. This definitely needs to be taken care of, and taken care of fast.
So needless to say, those nations not only find the IMF ineffective, but as the sole cause of their disintegration. Some nations more than others. There are those who believe that the Fund has no success stories to speak of.
It hasn’t pulled us out of the gutter yet, and it’s sending other nations into the gutter. So is the IMF good for the World? Right now, no. Could it be? Yes.
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