The International Monetary Fund (IMF) is an intergovernmental organization of 189 countries that works to foster global monetary cooperation, secure financial stability, facilitate international trade, and reduce poverty. Headquartered in Washington D.C., the IMF was founded in 1945 and is governed by a Board of Governors which represents member countries. The IMF provides loans to countries experiencing economic crises or balance of payments issues, offers policy advice, and monitors the global and national economies through economic surveillance.
3. INTERNATIONAL MONETARY FUND
Headquarter : Washington, United States
CEO: Christine Lagarde
Membership: 189 Countries
Formation: 27 December 1945; 72 years ago
Founders: John Maynard Keynes, Harry Dexter
White
5. Membership of the IMF
Date of entry:(December 27, 1945)
(189 Member Countries)
โขIMF is controlled and managed by a Board of
Governors.
โขEach member country nominates a governor.
โขAll the nominated Governors make the Board
of Governors.
6. About the IMF
โข The International Monetary Fund (IMF) is an
organization of 189 countries, working to
foster global monetary cooperation, secure
financial stability, facilitate international
trade, promote high employment and
sustainable economic growth, and reduce
poverty around the world.
7. Purpose of IMF
โข To promote international monetary
cooperation
โข To facilitate the expansion
โข Balance Growth of international trade
โข Maintenance of high levels of employment
โข To promote exchange rate stability
โข To make its resources available to its
members who are experiencing BOP problems
8. Work of IMF
โข Surveillance(Investigation):
The IMF promotes economic stability and
global growth by encouraging countries to
adopt sound economic and financial policies.
it regularly monitors global, regional, and
national economic developments.
9. โข Technical assistance and training:
IMF offers technical assistance and training to
help member countries strengthen their
capacity to design and implement effective
policies.
Technical assistance is offered in several areas,
including fiscal policy, monetary and exchange
rate policies, banking and financial system
supervision and regulation, and statistics.
10. โข Lending:
IMF financing provides member countries the
breathing room they need to correct balance
of payments problems.
In low-income countries, the IMF has doubled
loan access limits and is boosting its lending to
the worldโs poorer countries, with loans at a
concessional interest rate.
11. Vision
โข โAs an international organization we seek to
actively engage medical professionals and
Catholic parishes in the U.S., creating
partnerships within communities of the poor
and neglected for mutual benefitsโ.
12. Mission
โข โWe exist to act as an extension of Godโs hand
to restore health, hope, and dignity to the
less-privileged, focusing on developing and
under-developed countries.โ
13. Benefits of IMF
โข It promotes international monetary co-
operation and global financial stability.
โข It provides temporary financial help to
countries in debt โ particularly those with
balance-of-payments problems.
โข It encourages economic growth.
โข It gives financial advice to countries about
how to run their economies.
14. Challenges Of IMF
โข The IMF will only lend money to countries if
they agree to certain conditions.
โข These conditions increase poverty.
โข Decisions about which countries may borrow
money are made by rich countries. Poor
countries have little say about loans and the
conditions attached to them.
โข Exchange rate reforms
โข Conditions of loans
15. Current updates of IMF
โข India to grow at 7.4 per cent in FY 2018/19,
says IMF report
โข According to the IMF's the country's economic
growth is expected to be 7.8 per cent in 2019.
The IMF provides technical assistance and training mainly in four areas:
monetary and financial policies (monetary policy instruments, banking system supervision and restructuring, foreign management and operations, clearing settlement systems for payments, and structural development of central banks);
fiscal policy and management (tax and customs policies and administration, budget formulation, expenditure management, design of social safety nets, and management of domestic and foreign debt);
compilation, management, dissemination, and improvement of statistical data; and
economic and financial legislation.