This website uses cookies to ensure you have the best experience. Learn more

To What Extent Has The International Monetary Fund Impacted The Democratic Republic Of Congo Under Mobutu Sese Seko?

1356 words - 5 pages

Part A: Plan of Investigation
To What Extent has the International Monetary Fund Impacted the Democratic Republic of Congo under Mobutu Sese Seko? The International Monetary Fund (created in 1945) was conceived by the meeting of representatives of 45 countries in Bretton woods, New Hampshire, United States to support countries facing debt crisis. The aim of this internal assessment is to examine the effect the IMF has had on the Democratic Republic of Congo under the leader Mobutu. Many sources were consulted, including books, websites, and documentaries related to the IMF and the Democratic Republic of Congo. Part B will present the evidence and information regarding the IMF and the effect it had on the Democratic Republic of Congo under Mobutu. Part C will analyze two of the sources referred. Part D will analyze the findings, and Part E will conclude this internal assessment. Instead of lowering the national debt by loaning money, the IMF has inflated the debt because Mobutu stole the money from the people, which lead to an economic collapse.
Part B: Summary of Evidence
The IMF was created towards the end of the Second World War, and its goal was to rebuild countries’ national economies that suffered a loss by isolating themselves. “During the Great Depression of the 1930s, countries attempted to shore up their failing economies by sharply raising barriers to foreign trade, devaluing their currencies to compete against each other for export markets, and curtailing their citizens' freedom to hold foreign exchange. These attempts proved to be self-defeating.” (Cooperation and reconstruction (1944–71)) The IMF encourages free trade, and advocates for trading without restrictions. Although the IMF began taking shape in 1944, the IMF came into formal existence in December 1945 (Cooperation and reconstruction (1944–71)). However, since the 1970s, the IMF has been helping the poor countries through the Trust Fund, which was a loan to send money to developing nations or nations with heavy debt issues.
The IMF was created with 29 member countries at first, but grew to become an organization of 188 countries (List of Members). To obtain funding, a member of the IMF must request for a loan which can include a one time loan, or a loan in several increments and must comply by the instructions of the IMF. Most of the IMF’s resources come from member countries through its quotas, which are increments of money paid to the IMF by its members. The main decision making process comes from voting, and the votes are weighed by the country’s quota. Currently, the United States holds the main votes, and gives the IMF about 64 billion USD.
Mobutu Sese Seko (1930-1997) was brought up as the son of a hotel maid and a chef of a Belgian judge. He was educated in a Catholic mission boarding school where he left to meet a girl. When the priests found him, he was forced to serve 7 years in the Belgian Congolese army, the Force Publique (1949-1956). He became a...

Find Another Essay On To What Extent has the International Monetary Fund Impacted the Democratic Republic of Congo under Mobutu Sese Seko?

The International Monetary Fund Essay

2495 words - 10 pages 1. Introduction 1.1 What is the International Monetary Fund (IMF)? “The International Monetary Fund is an organisation that provides short-term credit to 186 member nations. The International Monetary Fund works to maintain orderly payments arrangements between countries and to promote growth of the world economy without inflation. It supports free trade in goods and services. To stabilize its members’ economies, the IMF provides policy advice

Genocide in the Democratic Republic Of Congo

1038 words - 5 pages were supposed to get to? These organizations may try their best to help but it is not as easy as it looks like. There is an organization called the United Nations organization stabilization mission in the democratic republic of Congo (MONUCO) which is the biggest international peacekeeping force of almost 19,000 personnel as united to end genocide clarifies. Even though this organization is so big it has not yet made any kind of peace in the Congo

Role of the International Monetary Fund

2297 words - 9 pages to see the outcomes of current crises the IMF is dealing with. The IMF is involved in at what seems all times. The world is a lot less stable than most people take into consideration, researching the IMF has made me realize that greatly. The International Monetary fund is proof of the world’s economic chaos and instability. Works Cited Danielson, J. (2008). The First Global Financial Crisis of the 21st

The International Monetary Fund (IMF)

2616 words - 11 pages and shall conduct, under the direction of the Executive Board, the ordinary business of the Fund. Subject to the general control of the Executive Board, he shall be responsible for the organization, appointment, and dismissal of the staff of the Fund”. Under the Managing Director there are several departments, such as the Finance, Legal and Fiscal Affairs Departments, among others. Haiti became part of the International Monetary Fund in

Genocide in the Democratic Republic of the Congo

1133 words - 5 pages The Democratic Republic of the Congo, a.k.a. the DRC, or more commonly “the Congo”, has experienced an endless nightmare of violence, poverty, famine, sickness, and murder for the past 16 years. The constant bloodshed between the national and armed forces has led to countless civilian deaths, or the genocide in the Congo. Before I go on any further, I must explain what a genocide is. A genocide is the attempted destruction of an entire group of

The Rape in the Democratic Republic of Congo

687 words - 3 pages Since 1996, nearly four million people have died in the Democratic Republic of Congo. These tragedies evolve from several rebel armies that have a very important aspect in common: they target innocent people and they all use rape as a weapon of war. Although the civil war in Congo has only been going ongoing for five years, only recently has attention been drawn to the astounding number of rapes committed during the conflict. It is not known yet

Environmental assessment of The Democratic Republic of Congo

773 words - 4 pages Environmental Assessment The Democratic Republic of Congo (DRC) is a sub-Saharan African nation that has suffered through 32 years of totalitarian rule followed by coups and ongoing political turmoil (Zapata, 2011). Since February 2013 the Congolese government has been in talks with the largest rebel group M23 (The world factbook). Ongoing turbulence related to armed conflict has led to significant misplacement of the population and an

Food Security in the Democratic Republic of Congo

980 words - 4 pages Script for Geography Good morning/afternoon Today I will talk about food security in the Democratic Republic of Congo. DR Congo is an African country that consists of over 2,300,000 square kilometres (Central Intelligence Agency (US), 2013). The population in DR Congo is around seventy-five and a half million people with an average life expectancy of 56 years, a lot shorter than Australians (Central Intelligence Agency (US), 2013). The

Democratic Republic of Congo Holocaust

1337 words - 6 pages goes further than death and devastates further into today’s issues. It goes farther than group issues, and into land resources and money. The violence prevalent in the Democratic Republic of Congo affects even the civilians. “What those numbers don’t capture is the way Congo has become the world capital of rape, torture and mutilation…” (Kristof 1). Experts have measured the amount of deaths, which would have climbed to about 7 million. This is a

Coltan and Armed Conflicts in the Democratic Republic of Congo

2658 words - 11 pages Introduction The role of minerals as fuels to armed conflicts in poor countries has been long debated. Conversely, to date, policy initiatives towards the eradication of those clashes have not achieved any noteworthy breakthrough. This work addresses the specific case of the deadly conflicts in the Democratic Republic of Congo (DRC) and the strategic position of a specific mineral commodity (coltan) in such framework. It starts with a short

Policy to Address Human Rights Violations in The Democratic Republic of Congo

2719 words - 11 pages complete revamping of the judicial system. The government’s failure to prosecute those that were and are responsible for the human rights violations allow for the perception that these types of crimes will be tolerated, this perception must be changed. The International Criminal Court (ICC) has proposed certain changes be made to the judicial systems within the Democratic Republic of the Congo. We here at Human Rights Watch agree and support the

Similar Essays

The Democratic Republic Of Congo Essay

2744 words - 11 pages above sea level, having fertile soils and retaining may of the countries mineral deposits it allows for the locals to grow grains and raise cattle. The final geographical region is the Eastern Highlands, this great portion extends approximately 958 miles South from lake Mobutu Sese Seko, clear through to the edge of the Shaba region. Retaining lush vegetation and highly fertile soils, this region is highly populated. With Mt. Ngaliema

The Democratic Republic Of The Congo

1622 words - 6 pages he siphoned off millions of dollars for himself.Laurent Kabila and his long-standing but little-known guerrilla movement launched a seven-month campaign that ousted Mobutu. The country was renamed the Democratic Republic of the Congo, its name before Mobutu changed it to Zaire in 1971. Mobutu's downfall began in Oct. 1996, when he planned to banish the Zairian Tutsi who had lived for centuries in eastern Zaire. Neighboring Rwanda's Tutsi-led

Description Of The Democratic Republic Of Congo

1771 words - 8 pages ) Income per capita is the income of the people in an economic country or city. It’s calculated by taking a ratio of all sources of income in the location and dividing it by the total population. The income per capita of Congo is ranked last on the IMF’s (International Monetary Fund) list and is currently listed as one of the worst economies in the world. As a result of war, mismanagement and corruption, the Democratic Republic of Congo’s income per

History Of The Democratic Republic Of Congo

1334 words - 6 pages allows for the US to interact with markets in African nations such as the Democratic Republic of the Congo in order to stabilize and bolster both our and their economies through the foundation of young businesses. The International Finance Corporation noted that out of 189 nations, the business climate in DRC is ranked 183, hardly anything great. That is why there is still much work to be done, but on the bright side the DTF ranking of the DRC has