An Introduction to the IMF

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An Introduction to the IMF (18:00)
Item# 11189

The consensus of the world’s leaders is that economic stability and cooperation offer the best hope for global peace. Using interviews with members of the International Monetary Fund’s Board of Governors—each one the head of a national central bank or a minister of finance—this program explains how the IMF is structured and illustrates how it sets policy. The program also uses archival footage to examine the dual birth of the IMF and the World Bank and to explore the vision of its founding members: John Maynard Keynes and Harry Dexter White. IMF historian James Boughton provides additional insights. (18 minutes)

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Segments in this Video - (5)

1. International Monetary Fund (IMF) (03:14)
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The IMF Forum's goals are global prosperity and peace. International trade, stable currencies, and economic growth are the vehicles used to achieve. Executive members represent large constituencies.

2. IMF's Daily Functions (03:18)

Members represent their regions and act in the interest of the fund. Staff monitors economic reforms (e.g., privatization and banking reform) and lending decisions are made accordingly.

3. IMF: Economic Interdependance (02:46)

A cooperative IMF emerges from the currency chaos caused by depression and war. The United Nations Monetary and Financial Conference in 1944 believes that war and poverty undermine everyone.

4. Economists: Keynes and White (02:26)

In the 1930's abusive monetary policy (e.g., protectionism) depresses the world economy so economists propose the IMF as an independent body to guarantee loans to developing countries.

5. IMF and World Bank (02:32)

In the summer of 1944 in Bretton Woods, VT, a bold plan for an international collaboration for peace and prosperity is implemented by economists. Economics and politics are inseparable.

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