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PTE Real Test - Retell lecture 005

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Published on Feb 12, 2018

Economic growth and financial stability makes the world a safer place. And the economic policies affect people from the price of groceries to education, jobs, and prospects for the future. The ultimate goal is to have a solid economic foundation, which helps counties withstand turbulence and financial markets. Cause we’ve seen that when an economic crisis occurs, it spreads from one country to another, hurting everyone.

To keep the global economy running smoothly, 189-member countries work together to promote financial stability, prevent crises and facilitate trade through the international monetary fund.

The IMF does this by tracking the economic poles of each of it’s member countries, by collecting and evaluating data, and providing advices on sound economic policies to benefit the health of the world economy as a whole.

It also lends money in times of crisis, countries in need can turn to the IMF to borrow money from its members to alleviate the crisis and return to stability and in collaboration with member countries and other partners, the IMF shares it’s experience by training people on the ground on good policy making and helping them build stronger institutions with the aim of achieving stronger economic growth

In the wake of the global financial crisis, the IMF is evolving to meet other challenges confronting the global economy taking on issues such as the role of women in the workforce, inequality, climate change and money laundering. This collaboration and sharing of information from huge land masses to tiny island nations, it’s an example of what the founders of the IMF intended, countries of the world working together for the good of all.

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