International Monetary Fund

  • international monetary fund
    international monetary fund logo.svg
    coat of arms
    abbreviationimf
    formation27 december 1945; 74 years ago (1945-12-27)
    typeinternational financial institution
    purposepromote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties[1]
    headquarterswashington, d.c. u.s.
    location
    • headquartered in washington, d.c.
    coordinates38°53′56″n 77°2′39″w / 38°53′56″n 77°2′39″w / 38.89889; -77.04417

    the international monetary fund (imf) is an international organization headquartered in washington, d.c., consisting 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 while periodically depending on the world bank for its resources.[1] formed in 1944 at the bretton woods conference primarily by the ideas of harry dexter white and john maynard keynes,[6] it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. it now plays a central role in the management of balance of payments difficulties and international financial crises.[7] countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. as of 2016, the fund had xdr 477 billion (about us$ 667 billion).[8]

    through the fund and other activities such as the gathering of statistics and analysis, surveillance of its members' economies, and the demand for particular policies,[9] the imf works to improve the economies of its member countries.[10] the organization's objectives stated in the articles of agreement are:[11] to promote international monetary co-operation, international trade, high employment, exchange-rate stability, sustainable economic growth, and making resources available to member countries in financial difficulty.[12] imf funds come from two major sources: quotas and loans. quotas, which are pooled funds of member nations, generate most imf funds. the size of a member's quota depends on its economic and financial importance in the world. nations with larger economic importance have larger quotas. the quotas are increased periodically as a means of boosting the imf's resources in the form of special drawing rights.[13]

    the current managing director (md) and chairwoman of the imf is bulgarian economist kristalina georgieva, who has held the post since october 1, 2019.[14]

    gita gopinath was appointed as chief economist of imf from 1 october 2018. she received her phd in economics from princeton university. prior to her imf appointment she was economic adviser to the chief minister of kerala, india.[15]

  • functions
  • history
  • member countries
  • leadership
  • voting power
  • use
  • criticisms
  • imf and globalization
  • scandals
  • alternatives
  • in the media
  • see also
  • notes
  • references
  • further reading
  • external links

International Monetary Fund
International Monetary Fund logo.svg
Coat of arms
AbbreviationIMF
Formation27 December 1945; 74 years ago (1945-12-27)
TypeInternational financial institution
PurposePromote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties[1]
HeadquartersWashington, D.C. U.S.
Location
Coordinates38°53′56″N 77°2′39″W / 38°53′56″N 77°2′39″W / 38.89889; -77.04417

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting 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 while periodically depending on the World Bank for its resources.[1] Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes,[6] it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. It now plays a central role in the management of balance of payments difficulties and international financial crises.[7] Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016, the fund had XDR 477 billion (about US$ 667 billion).[8]

Through the fund and other activities such as the gathering of statistics and analysis, surveillance of its members' economies, and the demand for particular policies,[9] the IMF works to improve the economies of its member countries.[10] The organization's objectives stated in the Articles of Agreement are:[11] to promote international monetary co-operation, international trade, high employment, exchange-rate stability, sustainable economic growth, and making resources available to member countries in financial difficulty.[12] IMF funds come from two major sources: quotas and loans. Quotas, which are pooled funds of member nations, generate most IMF funds. The size of a member's quota depends on its economic and financial importance in the world. Nations with larger economic importance have larger quotas. The quotas are increased periodically as a means of boosting the IMF's resources in the form of special drawing rights.[13]

The current Managing Director (MD) and Chairwoman of the IMF is Bulgarian Economist Kristalina Georgieva, who has held the post since October 1, 2019.[14]

Gita Gopinath was appointed as Chief Economist of IMF from 1 October 2018. She received her PhD in economics from Princeton University. Prior to her IMF appointment she was economic adviser to the Chief Minister of Kerala, India.[15]

Other Languages
беларуская (тарашкевіца)‎: Міжнародны валютны фонд
Bahasa Indonesia: Dana Moneter Internasional
Jawa: IMF
къарачай-малкъар: Халкъла арасы ачха фонд
Kiswahili: IMF
kriyòl gwiyannen: Fon monétèr enternasyonal
kurdî: IMF
oʻzbekcha/ўзбекча: Xalqaro valyuta jamgʻarmasi
پنجابی: آئی ایم ایف
srpskohrvatski / српскохрватски: Međunarodni monetarni fond
татарча/tatarça: Xalıqara valüta fondı