International Monetary Fund

INTRODUCTION
Founded 53 years ago in the turbulent era of the 1940s to stabilise the world economy, the International Monetary Fund (IMF) has become outdated, ineffective, and unnecessary. Most of the economic conditions that led to the IMF's creation no longer exist; in addition, the Fund has failed to achieve most of its own newly defined roles, a preponderance of which merely duplicate the functions of other existing agencies and organisations.
When the IMF was founded, economies around the world were in shambles following the Great Depression of the 1930s and the devastation of World W…