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| Topic: |
History
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| Number of pages / Number of words: |
8 / 2239 |
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The IMF was provided with a fund, composed of contributions of member countries in gold and their own currencies. When joining the IMF, members were assigned quotas in relation to their economic power, and they were eligible for credits in times of deficits. The credit available was related to the size of the country's quota...
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The hope was that the IMF would create the right institutional forum for international cooperation on monetary matters. The IMF commenced its financial operations on 1 March 1947.
After World War Two, American hegemony was not based only in its nuclear power, but also on crucial role that dollar had in the international monetary system...
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