The International Monetary Fund, Criticized. The International Monetary Fund Response to Critics

After more than half a century since the creation of the International Monetary Fund (IMF), this paperanalyzes the extent to which this institution fulfilled its mission. The IMF admits that, in general, failed in theactivities which it proposed, that is raising funds for countries with economic problems and their redistribution toensure long term growth and development. This institution did nothing towards reducing poverty and financialdisparities, increasing transparency, accountability and improving management, and creating a more efficientloan system. The main objective of this paper is to present arguments for and against the strategic effect, thepolicy and methodology of the financial institution, with the purpose of justification for IMF membership to theglobal financial system.