- Topic: Business - International
- Citation Style: Harvard
- Length: 8 pages (2694 words)
- Sources: 8 sources
- Paper: #29440584
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Topic: Select one of the issues listed below and undertake an in depth analysis of the topic These issues are related to contemporary topics in international business You are expected to undertake further research into the underlying theories and concept relating to this topic in the academic literature and also discuss and provide recommendations
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The one mandate that can never truly be met is that of providing funding to members having difficulty with their balance of payments. However, many formerly volatile economies have strengthened and stabilized, which had led to questions regarding the future of the IMF. These questions are compounded when it is considered that having an IMF loan carries a stigma. The conditions attached to such loan are considered harsh so nations only approach the IMF in times of true crisis. This too has limited the number of potential customers for the IMF (Diokno, 2009). The current financial crisis, however, has shown that need for this aspect of the IMF's role has not entirely disappeared.
The World Bank is in a better situation than the IMF. Because of its mandate to assist in development, the World Bank has essentially positioned itself for long-term survival. Middle income countries, with increased access to world financial markets, have only curtailed their use of World Bank development loans slightly (Swann, 2006). Moreover, there remains no shortage of countries in need of development assistance. That said, the World Bank's role in development is decreasing as more countries gain access to global financial markets. The need remains, but as with the IMF there is significant risk of the World Bank shrinking in the coming years.
The IMF has traditionally derived relevance from its role as a facilitator of economic progress. The loans that it made to countries allowed it the leverage to enact economic change. Over time, the loans and series of progressive legislative changes that came as conditions to those loans have reduced the number of countries required IMF aid. Many of the countries that currently could benefit from such aid do not have the governance structure to meet the aid conditions. However, the ongoing global financial crisis has highlighted the need for the institution of the IMF and afforded world leaders an opportunity to make changes to its role.
As a result of the G20 meeting in April of 2009, the IMF will receive more financing from its donors and has been handed new…
Cite this Paper:
"Select One Of The Issues Listed Below And Undertake An In Depth Analysis Of The Topic These Issues Are Related To Contemporary Topics In International Business You Are Expected To Undertake Further Research Into The Underlying Theories And Concept Relating To This Topic In The Academic Literature And Also Discuss And Provide Recommendations" (2009, April 17) Retrieved December 13, 2013, from http://www.paperdue.com/essay/Select-one-of-the-issues-22786
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