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Internation Monetary Fund
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The need for an organization like the IMF became evident during the Great Depression that ravaged the world economy in the 1930s. Most of us are familiar with that era through dramatic photographs of farms eroding away in duststorms and of lines of jobless men waiting to enter soup kitchens. The Depression was devastating to all forms of economic ....
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....gold, further contracting the amount and frequency of monetary transactions between nations, eliminating jobs, and lowering living standards. Moreover, some governments severely restricted the exchange of domestic for foreign money and even searched for barter schemes (for example, a locomotive for 100 tons of coffee) that would eliminate the use o.... |
| Word count: 716 |
Page count: 3 |
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