International Monetary Fund: Ministrant or Hindrance for the countries in crisis?
Machairidou, Agathi
Μαχαιρίδου, Αγαθή
Δεληπάλλα, Σοφία
Πρόγραμμα Μεταπτυχιακών Σπουδών στις Πολιτικές και Οικονομικές Σπουδές Σύγχρονης Ανατολικής και Νοτιοανατολικής Ευρώπης
The purpose of this dissertation is to critically evaluate the financial assistance programs designed and implemented by the International Monetary Fund (IMF or Fund) so as to support countries in financial crisis. Changes such as the financial globalization and the recent deterioration of the global economic and financial conditions led to the radical transformation of the global economy. As responses to such changes countries are forced to ask for financial help from international financial institutions in exchange for policy reform. The fact that such programs have either succeed or failed in helping countries escape from crisis is related to multidimensional factors. Providing a variety of case studies but also an extensive analysis of the recent crisis experienced by Turkey, we approach the methods of economic reform and their impact. The analysis suggests that the effectiveness of the IMF-imposed economic and fiscal policies is highly depended on the specific peculiarities of each country. It’s not only the countries that need to be reformed but also the Fund which needs to revise its role and structure.
