Case Studies in IMFs Investment on the African Continent

Case Studies in IMF Investment on the African Continent Section I. Theoretical Background to Apply to Case Studies During the height of World War II, leaders from 45 nations met in Bretton Woods, New Hampshire, U.S. to promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems, promote and facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members (International Monetary Fund, Articles 2). Further mandates included orderly and stable exchange, avoiding currency depreciation wars and to remove hindrance to international trade caused by the immediate-term (current) technical complexities of currency exchange between nations. This would help recovery for European nations lying in ruins from war and prevent a return to the depression that had emaciated the United States, and global demand for exports, over the decade preceding World War II. Effectively, what happens is when countries want to import goods, they either have to directly barter those for their own exports, or first buy currency from the exporting country with which to purchase the exports. Exporting countries often want payment in their own currency, so if the purchasing country has a reserve of the foreignShow MoreRelatedBy Outlining the Current Global Political Economy, Discuss to What Extent the Current Global Political Economy Undermines National Development in the South.4509 Words   |  19 Pages and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy. 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