IMF (International Monetary Fund)
The International Monetary Fund is an international financial institution regulating global monetary systems, providing loans to countries in crisis, and promoting international financial cooperation. IMF loans typically carry strict conditions affecting government spending and economic policy.
Real World
Greece's 2010 IMF bailout required severe austerity measures — cuts to pensions, wages, and public services — triggering mass unemployment and protests, illustrating the human cost of IMF conditionality even within a wealthy region.
Exam Focus
Use the term 'conditionality' precisely and link it to a named country example to access the top mark band in governance questions.
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