Critically analyse the role of the International Monetary Fund in contradistinction from a central bank (e.g. the Bank of England) in the context of the financial crisis currently facing many countries across the world. This essay analyses the role of the International Monetary Fund (IMF) in contradistinction to a central bank in the current financial crisis. The central banks focused on will be the Bank of England, the United States' (US) Federal Reserve, and the European Central Bank (ECB). My focus will not be on economic or financial analysis, although I will explain how the current financial crisis arose, without detailing the exhausting process of securitisation in banking definitions. All figures represented with the pound symbol (£) will represent British pounds, and all figures represented with a dollar symbol ($) will represent US dollars.
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