verifiedCite
While every effort has been made to follow citation style rules, there may be some discrepancies.Please refer to the appropriate style manual or other sources if you have any questions.
Select Citation Style
Feedback
Thank you for your feedback
Our editors will review what you’ve submitted and determine whether to revise the article.
External Websites
- Reed College - Economics Department - Background Briefing: International Monetary Fund
- Corporate Finance Institute - International Monetary Fund (IMF)
- The Balance - IMF, Its Objectives, Structure, Functions, Members, Role, History
- Council on Foreign Relations - The IMF: The World’s Controversial Financial Firefighter
Britannica Websites
Articles from Britannica Encyclopedias for elementary and high school students.
printPrint
Please select which sections you would like to print:
verifiedCite
While every effort has been made to follow citation style rules, there may be some discrepancies.Please refer to the appropriate style manual or other sources if you have any questions.
Select Citation Style
Feedback
Thank you for your feedback
Our editors will review what you’ve submitted and determine whether to revise the article.
External Websites
- Reed College - Economics Department - Background Briefing: International Monetary Fund
- Corporate Finance Institute - International Monetary Fund (IMF)
- The Balance - IMF, Its Objectives, Structure, Functions, Members, Role, History
- Council on Foreign Relations - The IMF: The World’s Controversial Financial Firefighter
Britannica Websites
Articles from Britannica Encyclopedias for elementary and high school students.
Also known as: IMF
Written by
Lawrence McQuillan
Fact-checked by
The Editors of Encyclopaedia Britannica
Last Updated: •Article History
The impact of IMF loans has been widely debated. Opponents of the IMF argue that the loans enable member countries to pursue reckless domestic economic policies knowing that, if needed, the IMF will bail them out. This safety net, critics charge, delays needed reforms and creates long-term dependency. Opponents also argue that the IMF rescues international bankers who have made bad loans, thereby encouraging them to approve ever riskier international investments.
Recent News
Sep. 12, 2024, 10:46 PM ET (AP)
Pakistan says it has met all of the IMF's conditions to secure a new $7 billion loan
Sep. 6, 2024, 12:17 AM ET (AP)
What's at stake in Sri Lanka's first presidential vote since its economic meltdown?
Aug. 27, 2024, 3:59 AM ET (AP)
Sri Lanka's Dissanayake a strong contender for president with his alliance's focus on working class
Aug. 19, 2024, 8:51 PM ET (AP)
Kenya will reintroduce some tax proposals that sparked deadly protests
IMF conditionalities have also been widely debated. Critics contend that IMF policy prescriptions provide uniform remedies that are not adequately tailored to each country’s unique circ*mstances. These standard, austere loan conditions reduce economic growth and deepen and prolong financial crises, creating severe hardships for the poorest people in borrowing countries and strengthening local opposition to the IMF.
Lawrence McQuillan