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INTERNATIONAL ECONOMIC LAW
INTERNATIONAL MONETARY FUND
JAMIL ISKENDERLI
NURLAN GARAAHMEDLI
WHAT IS THE INTERNATIONAL MONETARY FUND
• The International Monetary Fund (IMF) promotes global economic growth
and financial stability, encourages international trade, and reduces poverty.
Quotas of member countries are a key determinant of the voting power in
IMF decisions.
• Purposes and activities
- to promote international monetary cooperation through a permanent institution which provides the machinery for
consultation and collaboration on international monetary problems
- to facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion
and maintenance of high levels of employment and real income and to the development of the productive resources
of all members as primary objectives of economic policy
- to promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid
competitive exchange depreciation
- to assist in the establishment of a multilateral system of payments in respect of current transactions between
members and in the elimination of foreign exchange restrictions which hamper the growth of world trade
- to give confidence to members by making the general resources of the Fund temporarily available to them under
adequate safeguards
- to shorten the duration and lessen the degree of disequilibrium in the international balances of payments of
members
HOW DOES THE IMF WORK?
• The IMF lends money to nurture the economies of member
countries with balance of payments problems instead of lending
to fund individual projects. This assistance can replenish
international reserves, stabilize currencies, and strengthen
conditions for economic growth.
the Board of Governors (all member states)
- the International Monetary and Financial Committee
- the Executive Board (day-to-day business)
*Executive Directors (24 members of which 5 appointed by France, Germany, Japan, the UK, and the US; 3
elected by the votes of China, Russia, and Saudi Arabia; 16 represent groupings of countries, so-called
constituencies)
- the Managing Director (ordinary business, selected by the Executive Board)
TYPES OF IMF LOANS
• A Stand-By Arrangement (SBA) offers financing of a short-term balance of payments, usually
between 12 to 24 months, but no more than 36 months
• The Extended Fund Facility (EFF) is a medium-term arrangement by which countries can
borrow a certain amount of money, typically over four to 10 years
• The third main facility offered by the IMF is known as the Poverty Reduction and Growth
Facility (PRGF). As the name implies, it aims to reduce poverty in the poorest of member
countries
International economic law
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International economic law

  • 1. INTERNATIONAL ECONOMIC LAW INTERNATIONAL MONETARY FUND JAMIL ISKENDERLI NURLAN GARAAHMEDLI
  • 2. WHAT IS THE INTERNATIONAL MONETARY FUND • The International Monetary Fund (IMF) promotes global economic growth and financial stability, encourages international trade, and reduces poverty. Quotas of member countries are a key determinant of the voting power in IMF decisions.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7. • Purposes and activities - to promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems - to facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all members as primary objectives of economic policy - to promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation - to assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade - to give confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguards - to shorten the duration and lessen the degree of disequilibrium in the international balances of payments of members
  • 8. HOW DOES THE IMF WORK? • The IMF lends money to nurture the economies of member countries with balance of payments problems instead of lending to fund individual projects. This assistance can replenish international reserves, stabilize currencies, and strengthen conditions for economic growth.
  • 9.
  • 10.
  • 11. the Board of Governors (all member states) - the International Monetary and Financial Committee - the Executive Board (day-to-day business) *Executive Directors (24 members of which 5 appointed by France, Germany, Japan, the UK, and the US; 3 elected by the votes of China, Russia, and Saudi Arabia; 16 represent groupings of countries, so-called constituencies) - the Managing Director (ordinary business, selected by the Executive Board)
  • 12.
  • 13.
  • 14. TYPES OF IMF LOANS • A Stand-By Arrangement (SBA) offers financing of a short-term balance of payments, usually between 12 to 24 months, but no more than 36 months • The Extended Fund Facility (EFF) is a medium-term arrangement by which countries can borrow a certain amount of money, typically over four to 10 years • The third main facility offered by the IMF is known as the Poverty Reduction and Growth Facility (PRGF). As the name implies, it aims to reduce poverty in the poorest of member countries