Loans of the International Monetary fund to Developing Countries : An Economical Support or an Interference Mechanism and Economic Domination ?

M. Hasan, Khames; M. Mnahi, Eftekhar

	Loans of the International Monetary fund to Developing Countries : An Economical Support or an Interference Mechanism and Economic Domination ?
Al-Ma'mon College Journal
Article 1, Volume 0, Issue 20, 2018, Pages 130-149
Authors
Khames M. Hasan; Eftekhar M. Mnahi
Abstract
A little before the end of World War II operations, the industrial capitalist states had a re-orientation towards establishing a new international monetary system to replace the one which was dominant during the pre-war time . The old system which was based on sterling pound and gold witnessed a recession . The new efforts were culminated by holding an international conference in the American city (Briton Woods ) in 1944 . It resulted in the establishment of a new international monetary system based on the American dollar and gold, supervised by an international organization which became known as ( The International Monetary Fund). The capitalist states' essential aim behind the establishment of this organization was to supervise the new system to make reconciliation between the conflicting interests of competitive states . The United States was an exception, for it had unannounced aims behind the new system and its international organization. It sought to serve its future strategies on an international level, represented by the establishment of an international capitalist system which would be used as a means of destroying other monetary regions, especially that of sterling pound form one hand . It was also meant to be used as an international credit mechanism to interfere in and dominate non-capitalist state and subordinate them to the universal capitalist system on the other hand.

Statistics Article View: 43 PDF Download: 16