 |
| Whew! What a trip! This time machine sure is a lemon! You spent all your money and gave up all your stuff just to get home. You want your money back, so you push the "coin return" button on the machine. All of the money you put in at different times gushes out of the machine in modern money at today's value. You are rich! The old man was right, but he has vanished. . . . Even though people today don't usually use chocolate or jewelry as money, each country still has its own kind of money, or currency. If you go to another country, you have to convert your own currency into local currency before you can buy anything. The International Monetary Fund (IMF) help makes currency exchange between countries convenient and predictable. Member countries of the IMF agree to allow their currency to be exchanged with other countries. The IMF lends countries money and advises them about their economic and monetary policies to help keep the value of world currencies stable. This not only helps tourists, but it makes international trade and investment around the world possible. Even if you'll make all of your money selling intangible "Bowie Bonds," you'll still need the IMF! |
||
|
|
||