What are the original functions of IMF?

• Oversee a system of “fixed” exchange rates • Promote currency convertibility • Act as “lender of last resort” supplying emergency loans to countries which ran into short-term cash flow problems.

What bigger international institution is the IMF a part of?
• It is a part of the United Nations and has 185 member countries

Besides loaning money, how does IMF helping countries?
• Technical Assistance • IMF Surveillance (gathering information) • The IMF established the GDDS (the General Data Dissemination System) and SDDS (the Special Data Dissemination Standard)

The Mission of the IMF
1.ensure the stability of the international monetary 2.prevent crises 3.provide advice 4.make financing 5.provide technical assistance and training

3 parts or functions of the IMF's job
1.monitoring national, global, and regional economic and financial developments and advising member countries on their economic policies ("surveillance") 2.lending members hard currencies to support policy programs designed to correct balance of payments problems. 3.Offering technical assistance in its areas of expertise, as well as training for government and central bank officials

Functions of the IMF
1.Promote the negotiation and cooperation 2.promote exchange rate stability and orderly exchange rate arrangements 3.Establish a long position payment and transfer system 4.provide financing to member countries 5.Reduce the imbalance of international payments for the duration and extent of 6. the IMF has a financial function to fulfill, which consists of providing resources to members on a temporary basis

Examples of IMF Projects

Manage public capital: 1991, The Cambodia rebuilt their public service and enhances their public capital management. IMF provides the tactical assistance and capital supply, combined with their political advice to help The Cambodia meet the challenges.

Promotion of banking supervision. September 2001, when IMF set new office in Port Moresby of Papua New Guinea, the local economy was suffering from a tough time. Part of problem was caused by governance. IMF helped the government to perfect the financial system and strengthen the banking auditing. They also provided the Central Bank of Papua New Guinea with numerous technical support. At the beginning of reform, IMF drafted The New 2000 Central Bank Act and The New 2000 Banking Financing Institution Act for Papua New Guinea, in order to enhance their Auditing in Banking and Financing.

Future scheme: In the 1990s,Mongolia began to switch their economy to a market economy. During that time, the government of Mongolia faced the weakness of bank system, and they must be well prepared for the impact. With the help of the IMF in technical and finance, Mongolia developed rapidly. They had to deal with many large challenges, and the IMF officers put forward many reasonable recommendations such as promoting the transparency of public section and implementing the revolution of civil servant system.

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