IN THE LIGHT OF NEW DEVELOPMENTS IN THE GLOBAL SOUTH ANALYZE ARTICLE 1 OF THE IMF’s CHARTER AND EXAMINE ITS POLICY IMPACTS ON THE DEVELOPING COUNTRIES?
Article 1 of the International Monetary Fund (IMF) constitutes of the organization’s purposes. The main aim of IMF is to promote international financial collaboration through a lasting institution that offers ways through which countries can consult and assist each other on global economic issues. Besides, the association promotes stability exchange, instilling confidence among member states in relation to the provision of aids, and assisting in the creation of the multidimensional structure of payments among others. The IMF has worked towards improving the global south by decreasing poverty percentage, creating income equality, and improving government expenditure on health and education. However, the loaning facilities in place have created dependency among the developing countries.