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International Monetary Fund (IMF)
The definition of the key term by Brian Satterlee, “the IMF was created to maintain order in the global monetary system.” By going directly to the IMF website I was able to see that the “IMF describes itself as "an organization of 184 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty". (IMF Home Page)
When I took this key word on International Monetary Fund (IMF), I thought to myself how boring and what can I possibly get from this or how will I ever find anything to write about. But while searching the internet for information on the International Monetary Fund I found many articles on what the IMF is doing globally and how it functions. The “IMF is a specialized agency within the United Nations”, however the “IMF has its; own charter, governing structure and finances.” (IMF Membership Overview). Surprisingly, I was amazed at how much the IMF is involved in and by keeping watch over global economics by conducting global analysis of the countries economics and their position in providing loans to its member countries that are having trouble meeting or that are about to have a balance of payments crisis. The IMF also assists low in-come countries by providing concessional loans. By doing so the loans to the low income countries not only helps them develop their own economic status but it aims to reduce that countries poverty (IMF Lending). One point is that the IMF is not a bank therefore it does not lend money for any project being undertaken by a country. The IMF was created as a result of the 1944 Bretton Woods Conference The agreement was to create a framework for the post war economy (Satterlee, pg. 157).
With the world economy going up one day and down another day one cannot help but wonder if any institution will be able to pull countries that are under developed out of poverty. But with the help of other countries and institutions such as the IMF perhaps countries will have a way out of poverty conditions.  
 Satterlee, B. (2009). Cross Border Commerce. Virginia:Synergistics.
IMF What we do, 2012, Retrieved from http://www.imf.org/external/about/whatwedo.htm 
IMF Lending, 2012, Retrieved from http://www.imf.org/external/about/our work.htm  
Yehoue, E., IMF Paper Warns Against Letting Inflation Target Rise, July 25, 2012, WSJ Retrieved from: http://blogs.wsj.com/economics/2012/07/25/imf-paper-warns-against-letting-inflation-targ...

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