Controversies Of Imf

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1. Describe the main functions of and controversies around the World Bank, the IMF and the WTO. The International Money Fund (IMF) is defined in our book as “a major international economic institution that was established in 1944 to manage international monetary relations and that has gradually reoriented itself to focus on the international financial system, especially debt and currency crises”. It is one of the most powerful international organizations due to the fact that it oversees many foreign issues, including the borrowing and lending of money to countries all over the world. The IMF has insight on all of the member states financial situations, and therefore can easily monitor and advise these countries to better their economy and…show more content…
Countries want to avoid war at all costs, but sometimes there are situations where they feel that war is the only logical option or response to something. One of these justifications is war is a last resort. This can occur if a country has used every other possible tactic to negotiate with a country, but they still cannot come to an agreement, sometimes war is the only option. Another reason to go to war is the fact that it was declared by legitimate authority. There are not many armies or groups that can defy one of their leaders when they are told to go to war. War can also be used as a way to bring about peace by ending disputes. Once in war, countries want to implement just conduct. Many of the issues of just conduct revolve around the use of biological, chemical, and nuclear weapons. These weapons can have long lasting effects and kill many innocent civilians, so a country should think long and hard before implementing these types of weapons. Sometimes there are restrictions against the use of them. Another big worry of the country going into war is the treatment of the captive soldiers as well as avoiding civilian casualties when able. The countries at war should not be harming people with no justification or reason. They countries should have a response that is proportional to the reason they are going to war. There is a lot of controversy involving institutions like the International Criminal Court. The US does not believe in the institution because they do not think they should have to defend themselves against the international community in these court systems, and they think that the ICC lacks oversight. The ICC is starting to become more of a political entity, not the true and just court that it is meant to
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