The IMF and the World Bank seem like they are very important, over arching institutions, but in reality they have turned into just more aid organizations; a big portion of the money loaned is 'forgiven' by the banks, and there are other organizations that are far better at helping poorer countries.
Worldwide banks are good for propping up poor countries. However, it's time to get the Third World developed. Everyone should take part in the global economy and modernize. Childhood deaths and starvation should be eliminated with robust economic policies that get a consumer-based economy even healthier. The IMF and the World Bank should be replaced with another bank that does a better job.
The IMF and World Bank has outlived their usefulness. The debt crisis in Europe, as well as the lingering effects of the global financial crisis of 2008, is an opportunity to rethink the role
international organizations, and their lending, have in fostering sound policies and financial stability. In other words, it may be time to start seeing the IMF’s expansive mission as part of the problem, rather
than the solution, to the world’s economic woes.
No, the IMF and the World Bank have not outlived their usefulness, because they are public service organizations that do good work and help other people. The IMF helps with public work projects in developing countries. There is hardly a shortage of developing countries that still need help. The IMF and World Bank improve the quality of living in developing countries. This is not only still useful, but it is critical.
I think that there is still a place in the world for the IMF and World Bank. We will always need some sort of centralized authority and having them reassures the fact that someone will be there to at least attempt to set things straight. I believe in the usefulness of them.