please write a short response to the 2 paragraphs below: 1. International Moneta
ID: 354442 • Letter: P
Question
please write a short response to the 2 paragraphs below:
1. International Monetary Fund is a international organization headquarter in Washington, DC. This is for 189 countries to foster global financial stability, international trade, high employment and economic growth. This is to also here to help with the poverty of the world today. During World World 2 this system so devolved in 1945. All the countries that are with in this contributed to the organization. They are here to improve the economy within are own nation and the world. This system is to help with finding the corrected exchange rates between countries. During the Great Depression was a huge factor when the organization was developing. The biggest contributions with this organization is the help that the organization does for all and not just for one country. I think that being able to have the support of all nation is the correct way for theses things to grow and move forward within the world that we live in.
2.The Jamaica Agreement was a new exchange rate system that was set in place to try and stabilize inflation in the economies around the world with little government interference. This agreement was signed in 1976. The Jamaica Agreement also removed gold as the primary reserve asset of the International Money Fund (IMF) and stated that lending money was to be a last resort to countries with balance-of-payment challenges. The Jamaica Agreement replaced the previous rate exchange system that used a rate system that was freely floating and had no government involvement. This rate exchange system is still used today.
Explanation / Answer
The objective of the International Monetary Fund is to lower down the poverty level in various parts of the world and promote economic growth of ano of the 189 nations through global financial stability, international trade and high employment. The institution needs to be fare with all the countries and also determine the exchange rate of currency between one country to another which will help the countries grow. The objective of economic growth of the world can be achieved through economic growth of individual countries.
The Jamaica agreement is the latest method through rate of currency between the countries are determined and government involvement is also present unlike the previous method which was free. The objective of this agreement is to stabilize the economies of various countries so that the total economy of the world is safeguarded.
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