2 ms·
> the IMF is an NGO made up of a few wealthy people. I was under the impression that it is an international organisation that is backed by most countries. Wik
by andruby 5y ago
> the IMF is an NGO made up of a few wealthy people.
I was under the impression that it is an international organisation that is backed by most countries.
Wikipedia calls it "an international financial institution consisting of 190 countries" and says it "came into formal existence in 1945 with 29 member countries"
Even though it had a few wealthy founders, one of which is John Maynard Keynes, probably one of the most well known economists, I wouldn't describe the IMF as "an NGO made up of a few wealthy people".
[0] https://en.wikipedia.org/wiki/International_Monetary_Fund https://en.wikipedia.org/wiki/International_Monetary_Fund
- sigmaprimus 5y agoFair enough, the IMF itself is an international construct funded by world governments but it's directors and governors are appointed positions held by individuals chosen by a few wealthy individuals. It is not a government organization just like the US Federal Reserve Bank which also gets mistaken for a government organization.
- andruby 5y agoThank you. That seems to be the case indeed. And it’s important to be aware of the potential agency issues.