Maverick Updated February 12, — Both organizations were established as part of the Bretton Woods Agreement in The IMF also provides loans and helps countries develop policy programs that solve balance of payment problems if a country cannot obtain financing sufficient to meet its international obligations. The loans offered by the IMF, however, are loaded with conditions.
They criticized protectionism that might draw countries into decline of prosperity. The IMF cuts its global economic growth forecast for the current year and for This is pure scaremongering based on nothing. In fact, economic growth of the past that claimed of having emanated from increased trade and investments has served a small minority and driven a widening wedge between rich and poor of both developing and industrialized countries.
Or just look at the insane and totally unfounded IMF prediction of 1 million percent inflation of the Venezuelan new currency in and ? What are they talking about? The same with the prediction of dire consequences from reduced trade, when trade as we know it, has and is serving almost exclusively the corporate world of rich industrialized countries, leaving poorer developing countries behind with a burden of unfair deals and often a resulting debt trap.
Time and again it has been proven that countries that need and want to recover from economic fallouts do best by concentrating on and promoting their own internal socioeconomic capacities, with as little as possible outside interference.
One of the most prominent cases in point is China. Only then, when China had overcome the rampant diseases and famine, built a countrywide education system and became a net exporter of grains and other agricultural products, China, by now totally self-sufficient, gradually opened its borders for international investments and trade.
And look where China is today. This is mostly due to a state economic development policy that concentrates on local capacities and that banks on public banking.
Today, North Dakota has still the only public bank in the country; but other States, like New Jersey, New Mexico, Arizona and others, as well as the city of Los Angeles are at the brink of creating pubic banking.
Local economy with local investments for the benefit of the local population, is, of course, not what the ultra-capitalist system wants. Trump may or may not know what he is doing, but certainly his handlers and advisers, hidden or overt, know the purpose of their newly professed turn of international policy.
Its intention is to cut the political cohesion created by globalization, to divide again for the empire to conquer. The intention is not to promote local economies, per se, but rather to get countries ready for unguarded bilateral negotiations and agreements between Washington and the developing world, under which the latter have no protection, and with their mostly corrupt leaders, they buckle under facing the harsh conditions of the empire.
So, the purpose is not to help, say, the Latin American US backyard to become sovereign again, to the contrary, with imposed bilateral deals — see Brazil, Argentina, Chile, Ecuador, Peru, Colombia — they are slated to become increasingly vulnerable to and dependent on the US and US-dollar hegemony.
The point is for self-conscious and alert governments with the desire to return to their sovereign national politics, this is a crucial moment of truth to take advantage of. The ship is turning.
It is the moment to jump off the globalized bandwagon, the globalized trade, the open borders for indiscriminate foreign investments; it is time to sit down and reflect and return to autonomous local policies: Trade, of course, is part of a local economy; but trade should best be kept within the realm of friendly neighbors and nations that have similar interests and similar political convictions.
Trade under de-globalized circumstances should and will return equal benefits for partners, a win-win situation for all trading partners — as it should be according to the original interpretation of trade.
By contrast, modern trade as we know it has almost consistently benefited the rich countries to the detriment of the poorer ones. ALBA may be an excellent illustration on how trade should work between countries or groups of countries.Learn about the International Monetary Fund and the World Bank and how they are differentiated by their respective functions and purposes.
International Monetary Fund IMF was found in July during Bretton Woods Conference, New Hampshire, US, where 45 government representatives agreed on an economic cooperation framework that was designed to prevent ’s Great Depression from happening again.
The Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) will take place in Bali Nusa Dua, Indonesia, in October, following a vote by the Boards of Governors of the two institutions. The decision was formalized in when the Annual Meetings took place in Lima, Peru.
Oct 11, · IMF-WB meetings organizing committee Susiwijono, who is also secretary to the Coordinating Economic Minister, stressed that the government had anticipatory measures in place for managing natural. The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of " countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.".
the International Monetary Fund and the World Bank. The Annual Meetings will take place in Bali, Indonesia, from October , Registration is now OPEN.