ABSTRACT
The International Monetary Fund was created at the end of World War II to help regulate the international economy. By requiring members to subscribe to a common set of rules regarding exchange and payments arrangements, the Fund attempts to prevent the narrow pursuit of national interests from impeding international growth and stability. A Board of Governors meets annually to determine Fund policy but most important decisions are handled by the Executive Board. The Fund borrowed to finance its 1974 and 1975 Oil Facilities in amounts totalling Special Drawing Rights 6.9 billion and its Supplementary Financing Facility. The intent of conditionality is to maintain the revolving nature of Fund resources by ensuring that members' drawings are purely temporary. Turning to the 'form' of conditionality, the Fund has often been accused of applying simplistic monetarist analysis to the problems faced by its members.
