Boosting economic growth? Creating more jobs? In order to provide and achieve that, the International Monetary Fund (IMF) works with governments around the world to modernize their economic policies and institutions. This helps countries strengthen their economy.
Growth? On one hand, there are countries emerging from long-term conflict period, that try to rebuild their economies; and on another hand, there are other countries with many million people, but only 10 percent, pay their taxes. It means that small amount of money gathered from taxes is not enough to build and maintain growth, infrastructure, and other essential services to its people.
IMF is facing these and many other challenges constantly. By working with government agencies and staff, the IMF helps countries manage revenues and budgets, modernize banking and legal systems, improve economic analysis and forecasting, and enhance the reporting of macroeconomic data, by arranging economical, political debates, consultation, and numerous meetings.
The IMF’s work enables governments to provide better services, such as schools, roads, and hospitals; it fosters a stable economic environment; and most importantly, it helps improve growth and create jobs. A clear example of such a situation is one young European country, that was supported by Japan and International Monetary Fund by providing financial resources to the banking system so that sector can get functional to the community.
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