Money For the Rest of Us What Is the IMF and Why Is It Controversial?
How the International Monetary Fund, the world's economic firefighter, works for global monetary cooperation and prosperity while using its own made-up currency, the SDR.
Topics covered include:
- What was the Bretton Woods monetary system that led to the formation of the IMF and the World Bank
- How the World Bank and IMF differ
- What does the IMF do
- How the IMF creates its own money out of thin air
- Why does Argentina, the IMF's largest borrower, keep defaulting on its debt obligation including those to the IMF
- Why the IMFs negotiating tactics are controversial
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Show Notes
Creation of the Bretton Woods System, July 1944—Federal Reserve History
Sterling devalued and the IMF loan—Cabinet Papers, The National Archive
Total IMF Credit Outstanding, Movement From November 01, 2022 to November 07, 2022—IMF
Why you can’t technically default on the IMF by Izabella Kaminska—Financial Times
The IMF cannot solve Argentina’s dysfunction—The Economist
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