Discuss the main future of IMF? answer
Answers
Explanation:
The IMF has responded to the coronavirus crisis with unprecedented speed and magnitude of financial assistance to help countries, notably to protect the most vulnerable and set the stage for economic recovery. As IMF Managing Director Kristalina Georgieva has noted ahead of the October 2020 IMF/World Bank Annual Meetings, “the global economy is beginning to climb back from the depths of the crisis but this calamity is far from over.” In this unprecedented time, the IMF is striving to support countries by providing policy advice, financial support, capacity development, and debt relief for the poorest.
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Answer:
The world is changing. The IMF is changing with it. The question, however, is not only how it needs to change if it is to remain relevant. It is also whether the political environment will allow it to remain relevant. The IMF is built on a commitment to cooperation among member countries. That commitment is on the wane. But the countries of the world might rediscover its importance. If so, they will find the Fund an invaluable instrument. The IMF cannot ensure that outcome. But it can, and must, prepare for it. To its credit, it is doing so