International Monetary Fund (IMF) | Intermediate

What is IMF?

The main objective of the International Monetary Fund Committee is to improve the economic state of its Member countries. It plays a key role in furthering global financial stability, reducing poverty, and encouraging economic growth. The funding of the IMF relies on two major sources: quotas and loans. The International Monetary Fund executes its goals through three main methods: surveillance, capacity building, and lending. This committee has the authority to survey the international economic stability and intervene when necessary. It also has the capacity to provide countries with training and technical assistance in its respective fields. In its efforts to reduce poverty in low-income countries, the IMF may also provide temporary financing in the form of loans.

TOPIC:
The Lebanon Economic Crisis

With virtually no economic growth in the last decade, its public sector debt reaching an all-time high, and the banking sector left bankrupt, the Lebanon economic crisis is at its breaking point. In addition to the political and economic instability that Lebanon has been facing in previous years, in 2020 a severe COVID-19 crisis took over the country, and a devastating explosion took place on the 4th of August in Beirut. The accumulation of all these hardships caused their national currency, the lira, to depreciate. And past negotiations with the IMF were to no avail due to the vacuum of political representation in Lebanon. With little foreign financial support, political unrest, and economic uncertainty Lebanon is facing economic collapse.

Country List

United States of America, United Kingdom, China, Canada, France, Lebanon, Sudan, South Sudan, Egypt, India, Iraq, Iran, Sweden, Gemany, New Zealand, Kuwait, United Arab Emirates, Saudi Arabia, Japan, Jordan, Syria, Pakistan

Download the IMF study guide to learn more about the committee and its topic.

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