Rule of Law | The establishment of the state led to the development of its coercive power. Unfortunately, it is this power that has been used by the state to suppress the rights of the citizens. As a result, political theorists became concerned with how to maintain a balance between the exercise of political power and the need to ensure civil liberties among the Government tiers.

The International Monetary Fund (IMF) was established in 1944. Its financial resources stem mainly from quota subscriptions which are assigned to each member according to its relative size in the world economy. A member’s quota also determines its voting power as well as its access to IMF financing.