The International Monetary Fund (IMF) has been around since 1945 and their main aim has been to help member countries sustain economic growth and development.
They have to find a way to help these governments implement strategies without affecting future generations and hampering them taking care of their needs. That also takes into account being able to advance the people’s quality of life, with no extra demands on natural resources outside of the threshold of the environment to provide for them for the foreseeable future.
The International Monetary Fund & World Governments
The IMF is a facilitator for many world governments.
They present possible guidelines that are often difficult, strict and restrictive. But the eventual goal is that these countries will become less dependent on international aid, and capable of paying back their insurmountable debt.
Their target is to engage actively world leaders to alleviate poverty, create opportunities for dynamic employment, progress the position of women in societies, and protection and regenerating the environment.
In today’s age, all the areas are relevant in today’s society, especially in the Eastern Hemisphere where women face mounting discrimination and prejudice.
So you will see the IMF push for creating an educated populace, balancing the budget and advancing the role of women in society.
Issues of Facing Third World Countries
Oftentimes, poorer countries focus on material wealth such as consumer goods like automobiles and cellular telephones, as a measure of wealth and development.
This has only served to lower the volume of resources forwarded to the education sector ultimately in a less than desirable literacy rate. This literacy rate translates into fewer people qualified for available job offerings and low worker productivity.
However, if these governments shift their focus to educating 100% of their population to match international standards, there would be an attendant increase in positives. More taxes collected, more money being generated, more businesses being developed and more wealth circulating in the economy. The people benefit and the country benefits.
Another derivative of these developments is a lower crime rate.
There will also be greater worker productivity and increased output from the means of production thus more products available for export. People will be less eager to migrate to seek opportunities as companies will be encouraged to operate in the country based on the educated populace and the low crime rates.
This would be welcomed by organizations such as the International Monetary Fund, which is located in the United States, and which is facing new immigration issues and upsets under its current President.
But, if people migrate, they will be able to command better-paying jobs.
Hence, their possible remittances will amount to further shoring up of the economy to sustainable levels.
Those persons who opt to farm will have the latest technology at their disposal thus producing more on less expanse of land without adversely affecting the environment.
The additional exports and fewer imports will serve to lower the trade deficit thus the country will be able to balance its fiscal budget and allocate more funds to social and infrastructural development (education and health service, road and other physical development).
The additional income to the government could also allow them to reschedule international debt.
Better yet, they could completely pay it off, in theory, and thereby reducing the pressure on the local currency. This will further add weight to the local currency thus the country’s exports will be even more on par with other goods on the international market.
A balanced budget coupled with a more educated population will allow the governments to solicit the best workers to their labor force, based on increased wages and salaries. Then there will be lower instances of bribery and bureaucratic red tape, which would increase the business taxes and other revenues going to the government.
All of this is a domino effect of the policies that the International Monetary Fund implements with the help of various governments.
The Advancement of Women Also Helps Sustain Growth and Development
Though controversial, the advancement of women in any society serves to promote sustained economic development.
For many years, male-dominated societies have limited the economic advancement of women in their own country and this directly influences the development of that country at large.
Women are great producers.
Economists theorize that women are better able to create budgets and are far more adept at extracting maximum benefits from limited resources.
The United Nations Development Programme (UNDP) has stated that good governance and sustainable development are linked intricately and believes the creation of such good governance is necessary for sustained development to take place.
Around the world, women are making strides into owning and operating productive enterprises and as such, many believe that with more females launching out in commerce, there will be additional income to the government from investors who are sympathetic to the cause.
More emphasis would also be placed on social and educational development, which will suffice to promote sustained economic development.