Business Studies
Essay: IMF-International Monetary Fund
Sample Essay
An example of the IMF’s role in the modern world, is its recent role in helping Pakistan recover from the balance of payment crisis it had gotten into. Pakistan is a typical example of what role the IMF can play and how productive it can be. Due to the global crisis and many local issues (like a huge current account deficit) Pakistan came dangerously close to running out of forex reserves. Basically when a country reaches this amount and has lost too much credibility to accept loans from other sources it is forces to go the IMF to stave off bankruptcy.