The Role of IMF on Goods and Services Importing of Argentina, Egypt, and Ecuador

Abstract

Following World War II, international economic connections advanced steadily and to significant heights in the context of the global economy. With the signature of the articles of agreement by 29 members, the International Monetary Fund (IMF) was formally established in December 1945.The International Monetary Fund was created to assist nations who are temporarily having problems with their balance of payments so they may avoid imposing import restrictions because of these issues. This study examines how IMF policies affect imports of goods and services and reveals that, as of 2023, the top three countries with the highest IMF debt (Ecuador, Argentina and Egypt). The data collection spans the years 2000 through 2023. There is a thorough literature review included in this study as well. According to the study's findings, the key debtor nations saw temporary financial and monetary relief as a result of the IMF accords, and as was predicted, this led to a corresponding rise in imports.