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  2. International MonetaryInternational Monetary FundFund
  3. OverviewOverview  The International Monetary Fund (IMF) is an organization of 188 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.  The IMF works to foster global growth and economic stability. It provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty.
  4. OverviewOverview With its global membership of 188countries, the IMF is uniquely placed to help member governments take advantage of the opportunities—and manage the challenges—posed by globalization The IMF tracks global economic trends and performance, alerts its member countries when it sees problems on the horizon, provides a forum for policy dialogue, and passes on know-how to governments on how to tackle economic difficulties The IMF provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty
  5. FAST FACTSFAST FACTS • Membership: 188 countries • Headquarters: Washington, D.C. • Executive Board: 24 Directors representing countries or groups of countries • Staff: Approximately 2,470 from 141 countries • Total Quotas : US$ 383 billion • Biggest Borrowers : Greece , Portugal ,Ireland (as of 18/08/2011) • The members of the IMF are 186 members of the UN (all UN member states but 7) and Republic of Kosovo. • Apart from Cuba, the other six member states of the UN not belonging to the IMF are: North Korea, Andorra, Monaco, Liechtenstein, Nauru and South Sudan.
  6. Key IMF ActivitiesKey IMF Activities The IMF supports its membership by providing: I. policy advice to governments and central banks based on analysis of economic trends and cross-country experiences; II. research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets; III. loans to help countries overcome economic difficulties; IV. concessional loans to help fight poverty in developing countries; and V. technical assistance and training to help countries improve the management of their economies.
  7. IMF FunctionsIMF Functions The IMF's main goal is to ensure the stability of the international monetary and financial system. It helps resolve crises, and works with its member countries to promote growth and alleviate poverty. I. Economic and Financial Surveillance : The IMF promotes economic stability and global growth by encouraging countries to adopt sound economic and financial policies. To do this, it regularly monitors global, regional, and national economic developments. II. 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. I. IMF Lending: In the event that member countries experience difficulties financing their balance of payments, the IMF is also a fund that can be tapped to facilitate recovery. II. Research and Data : Supporting all three of these activities is the IMF's economic and financial research and statistics.
  8. Objectives of IMFObjectives of IMF I. To promote international monetary cooperation II. To facilitate the expansion and balanced growth of International Trade III. To promote exchange rate stability IV. To make its resources available to its members who are experiencing BOP problems V. To establish a multilateral system of payments Ch 1
  9. MembershipMembership I. The IMF currently has a near-global membership of 188 countries. To become a member, a country must apply and then be accepted by a majority of the existing members. II. Upon joining, each member of the IMF is assigned a quota, based broadly on its relative size in the world economy. Ch 1
  10. Special Drawing Rights (SDR)Special Drawing Rights (SDR) • The Special Drawing Right (SDR) is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries. • The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: 1. Through the arrangement of voluntary exchanges between members 2. By the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. • SDR also serves as the unit of account of the IMF and some other international organizations. Ch 1
  12. Governance StructureGovernance Structure The Board of Governors is the highest decision-making body of the IMF. It consists of one governor and one alternate governor for each member country. The governor is appointed by the member country and is usually the minister of finance or the head of the central bank. While the Board of Governors has delegated most of its powers to the IMF's Executive Board, it retains the right to approve quota increases, special drawing right (SDR) allocations, the admittance of new members, compulsory withdrawal of members, and amendments to the Articles of Agreement and By-Laws. It also elects or appoints executive directors The Boards of Governors of the IMF and the World Bank Group normally meet once a year
  13. Governance StructureGovernance Structure Ministerial Committees: The IMF Board of Governors is advised by two ministerial committees, the International Monetary and Financial Committee (IMFC) and the Development Committee. The IMFC has 24 members, drawn from the pool of 186 governors The Executive Board: The IMF's 24-member Executive Board takes care of the daily business of the IMF. Together, these 24 board members represent all 186 countries.
  14. FinancesFinances Quotas: The IMF's resources come mainly from the money that countries pay as their capital subscription when they become members. Quotas broadly reflect the size of each member's economy: the larger a country's economy in terms of output and the larger and more variable its trade, the larger its quota tends to be. They also help determine how much countries can borrow from the IMF and their share in allocations of special drawing rights or SDRs (the reserve currency created by the IMF in 1969). Gold: The IMF holds a relatively large amount of gold among its assets, for reasons of financial soundness, also to meet unforeseen contingencies. The IMF holds 103.4 million ounces (3,217 metric tons) of gold, worth about $83 billion as of end-August 2009, making it the third-largest official holder of gold in the world.
  15. IMF AND INDIAIMF AND INDIA India is a founder member of IMF. EarlierIndia is a founder member of IMF. Earlier India was made a permanent ExecutiveIndia was made a permanent Executive Director of the Board of Directors.Director of the Board of Directors. At present India is no longer a permanentAt present India is no longer a permanent director. India is now an elected member ofdirector. India is now an elected member of IMF.IMF. India’s rank is 13India’s rank is 13thth among 185 memberamong 185 member nations.nations.
  16. ADVNANTAGES FROM MEMBERSHIP OF IMF TOADVNANTAGES FROM MEMBERSHIP OF IMF TO INDIAINDIA 1) Facility of Foreign Exchange1) Facility of Foreign Exchange 2) Freedom from British Pound2) Freedom from British Pound 3) Membership of the World Bank3) Membership of the World Bank 4) Importance of India in International4) Importance of India in International SectorSector 5) Economic Consultation5) Economic Consultation
  17. 6) Help during Emergency6) Help during Emergency 7) Financial help for five Year Plans7) Financial help for five Year Plans 8) Help in Foreign Exchange Crisis8) Help in Foreign Exchange Crisis
  18.  The IMF works to foster global growth and economic stability. It provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty CONCLUSION