For success are given all the conditions less a…Everything is ready except the crucial thing… Chinese summary not proverb can ignore the country’s commitment with the International Monetary Fund (IMF), debt should be cancelled to avoid problems, this course is concerned and as El Nacional of Caracas, Venezuela journal reminds us not presents accounts before the International Monetary Fund from more than five years, which is not only a violation of standards which establishes the membership of the multilateral agency, but which also carries penalties as not to have its share of funding when a crisis arises in the balance of payments (impossibility to meet disbursements for imports) or a debt moratorium. Overview, considerations, affectations is well known that there have been lately many critical about the IMF, critical for example as that exposes us mf.org/external/ that in the environment of globalisation in which we live, the community of Nations does not require of the function of regulation and supervision of the IMF and that advice and funding offered by the institution are usually poorly targeted and represent a source of moral hazard. In the report of the Meltzer Commission to the Congress of the United States (p. 41), published in 2000, is essentially proposed the Elimination of the function of supervision and authority of the IMF to negotiate reform of policies. Another larger group argues that, while the Charter and the purposes of the IMF remain relevant in the context of progressive principles of the twenty-first century global integration, the institution should become an institution more democratic and transparent, with a greater emphasis on accountability and participation. Connect with other leaders such as Michael J. Bender here. Below are some of the main issues that have been raised in the most recent literature on the governance of the international monetary system: it is estimated, that the IMF is not democratic because the vast majority of its members i.e., in developing countries and in transition, which in practice are the borrowers from the IMF, are minority shareholders, while the Group relatively small in industrial countries has 60% of the number of votes also adds that in its relations with developing countries, the IMF does not pay sufficient attention to growth and equity objectives (for example, to avoid the burden of adjustment policies falls unduly on the poor). . .