Global Business

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Recent Global Financial Crisis had a devastating affect on the entire Global Business. This Global Crisis crashes the key businesses, turn down the consumer wealth in the billions of Dollars, and a significant decline in economic movement. Experts have been pointed on so many reasons and they have been proposed so many causes.

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There are so many factors that directly and indirectly caused the ongoing financial crisis of 2007-2009. This started with the US subprime mortgage crisis. The housing industries of the entire world have collapsed.  This happened because of the values of securities tied to housing prices to plummet in United States in 2005-2006. The complication and interdependence of many of the causes, as well as conflicting political, economic and organizational comforts, have resulted in a diversity of narratives recitation the crisis. All financial institutions have damaged. The credit availability in bank solvency declines investor assurance had a crash on world stock markets. And that is why the Global stock market has suffered large losses during 2007. Economies have gone down throughout the world in late 2008 and early 2009. As a result international trade declines like anything. "The major financial crisis in East Asia soon followed. The currency crisis in Thailand was rapidly transmitted to Indonesia, Malaysia, the Philippines, and Korea, and its impact ramified throughout the global economy. Since then, the emerging markets have experienced a steady series of aftershocks: in 1998 and 1999 capital flow reversals induced currency devaluations in Russia (August 1998) and Brazil (January 1999), and most recently recession, devaluation, and default in Argentina (2002), as well as recessions and payments problems in Uruguay and Ecuador (2002). Though the region has since recovered, East Asia’s crisis remains the most severe in its depth and regional breadth." (M. Kawai; R. Newfarmer and S. L. Schmukler, 2009). Governments and Central banks responded with extraordinary economic motivation, financial strategies development, and institutional bailouts. But Risk still remains for the Global Economy.

International Monetary Fund is an Organization that exceptionally placed to help its Members to take benefits of the prospects and helps to manage the challenges. IMF has global membership of 186 countries. The IMF supports its membership by providing:

  • Policy advice to governments and central banks based on analysis of economic trends and cross-country experiences;
  • Research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets;
  • Loans to help countries overcome economic difficulties;
  • Concessional loans to help fight poverty in developing countries; and
  • Technical assistance and training to help countries improve the management of their economies.

But at the Global Crisis, IMF failed to anticipate the recent financial crisis in most of the cases. And they couldn’t provide the proper support to the Member Countries.

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