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The International Monetary Fund: Outdated, Ineffective, and Unnecessary

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Publication Date: September 2002

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Bryan T. Johnson

Topic: Banking and finance (International banking and finance)

Keywords: International organizations

Type: Report

Abstract:

Founded 53 years ago in the turbulent era of the 1940s to stabilize the world economy, the International Monetary Fund (IMF) has become outdated, ineffective, and unnecessary. Most of the economic conditions that led to the IMF’s creation no longer exist; in addition, the Fund has failed to achieve most of its own newly defined roles, a preponderance of which merely duplicate the functions of other existing agencies and organizations.