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International Monetary Fund

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The IMF was founded in

with the aim of promoting

stability and the reduction of poverty.

countries joined initially to form the fund that would provide loans to struggling countries. The major benefit of the IMF is that it has helped fund

such as schools and transport in impoverished countries. However it has been criticised for being biased; the USA has

of overall votes and therefore decisions may be based on Western ideals. Also, it imposes harsh

conditions

on aid, such as forcing countries to cut spending in areas such as military.



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