The IMF is considered one of the most controversial IGO’s, due to the conditions it carries. Because the IMF requires countries to pay in a certain amount of time, many countries, like Greece, misused that money and did not use it to repair debt. “The IMF cited Greece’s outstanding debts, its inability to collect taxes and the nation’s shadow economy” (Liao 2015) The IMF faced the reality that Greece could in no way pay its debt. This is a huge loss. The quota system obligates the United States to give one-quarter of its quotas, making the United States lose more than the rest of the participating countries. The United States could fund, at almost no cost, but damaging a countries economic stability does have a ripple effect. Foreign aid is not worth the cost to the United States. Foreign aid in this case damaged a country, and has resulted in a major monetary loss for many countries that funded and the EU. This aid is not worth the cost to the US, due to the fact that it can result in the damage of other countries, and the lack of possible future funding’s to improve the economic
The IMF is considered one of the most controversial IGO’s, due to the conditions it carries. Because the IMF requires countries to pay in a certain amount of time, many countries, like Greece, misused that money and did not use it to repair debt. “The IMF cited Greece’s outstanding debts, its inability to collect taxes and the nation’s shadow economy” (Liao 2015) The IMF faced the reality that Greece could in no way pay its debt. This is a huge loss. The quota system obligates the United States to give one-quarter of its quotas, making the United States lose more than the rest of the participating countries. The United States could fund, at almost no cost, but damaging a countries economic stability does have a ripple effect. Foreign aid is not worth the cost to the United States. Foreign aid in this case damaged a country, and has resulted in a major monetary loss for many countries that funded and the EU. This aid is not worth the cost to the US, due to the fact that it can result in the damage of other countries, and the lack of possible future funding’s to improve the economic