Interestingly, IMF involvement in Argentina and other developing nations is often criticized and critiqued by authors and intellectuals. Some even argue that the IMF is inherently undemocratic and a poor example for market reforms. According to Meltzer, “Banking reform is an example…The IMF at one time proposed to convert the rejected voluntary exchange plan into a mandatory plan. Is this the way to teach the virtues of the marketplace and the rule of law? Does the IMF encourage democratic government by forcing changes that the public rejected overwhelmingly?” (Meltzer, 30) Many nations resent the mandatory IMF policy implementation that accompanies the international lenders economic support. Nevertheless, most nations must resort to employing reforms in order to rebuild their economy.
