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International Organizations And Governance Of The International Monetary Fund

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Chapter Summary

This chapter discusses some points about the role and significance of international organizations today, being premised on the international organizations serving as agents of globalization, and their expansive and dynamic role within the processes of international law. It highlights some of the achievements of the resulting multilateralism. The chapter also discusses some details of the stance of the International Monetary Fund (IMF), relating in particular to multilateralism and multiculturalism, before turning to two other elements of governance, namely, the voting system and the operation of the rule of law. The international legal system is a result essentially of inter-state interaction. Traditionally, international law developed as a means of responding to the interaction, involving the means of development, identification, and application and enforcement, of international law. International organizations constitute an active subset of the participants in the international legal system.

Keywords: globalization; international law; international legal system; International Monetary Fund (IMF); international organizations; multiculturalism; multilateralism



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