TINJAUAN HUKUM PERAN IMF (INTERNASIONAL MONETARY FUND) DALAM MENGATASI RESESI EKONOMI PADA NEGARA INDONESIA PADA MASA COVID-19

Abstract

The IMF is an international organization that is responsible for managing the
global financial system and providing loans to its member countries to help with
problems of balancing each country's financial balance. The objectives of the IMF are
stated in the articles of agreement of the international monetary fund, in articles (i) to
(vi), one of which is to provide financial assistance to member countries. The IMF's
tasks are broadly divided into three, namely: supervision, capacity building and
lending. On August 21 2021, the IMF granted Special Drawing Rights (SDR) equivalent
to around US$ 650 billion to take effect on August 23 2021 as a form of preventing an
economic recession due to Covid-19.
The type of research used by researchers is normative legal research. Normative
legal research is legal research carried out by examining library materials or
secondary data. Normative legal research uses normative case studies in the form of
legal behavioral products, for example reviewing laws. So normative legal research
focuses on positive law inventory, legal principles and doctrine, legal discovery in cases
in concreto, legal systematics, level of synchronization, legal comparison and legal
history.
The results of this research are First, in carrying out its duties the IMF has the
role of monitoring the economic conditions of member countries, apart from that the
IMF also provides loans to member countries as a precaution to prevent crises from
occurring, as well as a consulting role in the economic sector as part of preventive
measures. with the results of the publication of the IMF's annual report. Second, as an
institution that is active in maintaining world economic stability, the IMF will provide
assistance funds that will help member countries face the economic crisis according to
the member countries' conditions. One of the assistance provided by the IMF as a form
of control due to the Covid-19 pandemic is: emergency funds or Special Drawing Rights
(SDR), which have been provided to member countries without any additional policies
from the IMF. The provision of SDR is a form of agreement by member countries
experiencing an economic crisis during the Covid-19 period.
Keywords: IMF, Lending, Special Drawing Rights