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)
•IMF is controlled and managed by a Board of
Governors.
•Each member country nominates a governor.
•All the nominated Governors make the Board
of Governors.
6. About the IMF
• 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
• To promote international monetary
cooperation
• To facilitate the expansion
• Balance Growth of international trade
• Maintenance of high levels of employment
• To promote exchange rate stability
• To make its resources available to its
members who are experiencing BOP problems
8. Work of IMF
• 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. • 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. • 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 world’s poorer countries, with loans at a
concessional interest rate.
11. Vision
• “As 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 benefits”.
12. Mission
• “We exist to act as an extension of God’s hand
to restore health, hope, and dignity to the
less-privileged, focusing on developing and
under-developed countries.”
13. Benefits of IMF
• It promotes international monetary co-
operation and global financial stability.
• It provides temporary financial help to
countries in debt – particularly those with
balance-of-payments problems.
• It encourages economic growth.
• It gives financial advice to countries about
how to run their economies.
14. Challenges Of IMF
• The IMF will only lend money to countries if
they agree to certain conditions.
• These conditions increase poverty.
• 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.
• Exchange rate reforms
• Conditions of loans
15. Current updates of IMF
• India to grow at 7.4 per cent in FY 2018/19,
says IMF report
• 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.