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The IMFC issues a summary of its views following each meeting, providing guidance for the IMF’s work. The IMFC operates by consensus and does not conduct formal votes.
- What Is The IMF?
- How Does The IMF Work?
- Governance Structure
- What’s Next For The IMF
The International Monetary Fund (IMF) was another component agency formed out of the Bretton Woods Conference in 1944. The purpose of the IMF was to provide stability to the global monetary system. Similar to the World Bank, the mission of the IMF has evolved over time, and is now primarily focused on the alleviation of poverty and the support of t...
Similar to the World Bank, the IMF works with member states to meet its mission. More than the World Bank, the IMF holds significant influence over the policies of the member states, as outlined in Article IV of the IMF Articles of Agreement. Article IV provides for significant involvement by the IMF into the activities and policies of member state...
The governance structure of the IMF is similar to the World Bank. There is a Board of Governors with representatives from all member countries, and a 24 person executive committee. Each state is assessed a quota based on the size of their economy, and a portion of the amount is maintained in the form of SDR’s or Special Drawing Rights where they ma...
As the monetary system became more stable, the IMF has shifted focus to poverty alleviation in line with the UN Millennium Developmental goals. The IMF does this through the promotion of solid economic policies and helping prevent elements that may cause financial instability globally. As globalization has increased, the IMF has responded by helpin...
The IMF is a cooperative intergovernmental monetary and financial institution with near universal membership. Its policies and activities are guided by its charter, known as the Articles of Agreement (the Articles), and are conducted under a decision-making structure that has evolved over the years (see Box 1).
Jun 16, 2022 · IMF imposed the policies on countries without understanding the distinct characteristics of the countries that made those policies difficult to carry out, unnecessary, or even counter-productive. Policies were imposed all at once, rather than in an appropriate sequence. IMF demands that countries it lends to privatize government services rapidly.
The strategy concluded that the emergence of new economic powers, integrated financial markets, unprecedented capital flows, and new ideas to promote economic development required an updated interpretation of the IMF’s mandate as the steward of international financial cooperation and stability.
International Monetary Fund (IMF) is an important topic for the IAS Exam and is included under the international relations and economy sections. This article will discuss the origin of the IMF and its controlling bodies, apart from India’s relations with the IMF. IAS aspirants can also download the notes PDF at the end of the article.
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How does the IMF work?
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What is International Monetary Fund (IMF)?
Why is the IMF a steward of international financial cooperation & stability?
The International Monetary Fund, or IMF, works to achieve sustainable growth and prosperity for all of its 190 member countries. It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.
