INTERNATIONAL MONETARY FUND

LOGO

PROFILE
Formation y Type
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- December 27,1945. - International Economic Organization. y Head Quarters - Washington DC. y Membership - 187 nations up to date. y Official languages - English, French and Spanish y Website - www.imf.org

IMF
Intergovernmental organization overseeing the global financial system. y Started to stabilize economic system. Later it started to help in stabilizing exchange rates and assist the reconstruction of the worlds international payment system. y All members of the IMF are also IBRD members and vice versa.
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Works to foster global growth and economic stability. y Provides policy advice and financing to members in economic difficulties.
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WHAT IMF DOES ?

Promotes monetary cooperation and exchange rate stability. y Facilitate balanced growth of international trade. y Provides resources to assist with poverty reduction or balance of payment difficulties.
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HOW DOES IMF DO ?

Economic surveillance. y Tracking the economic health of its member countries and providing policy advice. y Lends to country in difficulty. y Provides technical assistance.
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QUALIFICATION TO BE A MEMBER OF IMF

Application will be considered first by the IMFs executive board. y After consideration, the board will submit a report to the board of governors in the form of membership resolution.
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A payment for subscription of membership is covered in the amount of quota. y Finally the applicant state needs to take the legal steps under its law to enable to sign IMFs articles of agreement and fulfill the obligations of IMF membership.
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FUNCTIONING
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IMFC meets twice in a year during the spring and annual meetings. Executive board- 24 member board takes care of the daily business of the IMF.

TACKLING CURRENT CHALLENGES

Reinforcing multilateralism. y Rethinking macro economic principles y Stepping up crisis lending. y Strengthening the international monetary system. y Supporting low income countries.
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CRITICISMS
Impact on access to food. y Impact on public health. y Impact on environment. y Criticism from free market advocates.
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