5 3 The International Monetary Fund

How many member countries does the IMF have?

189

When and where was the IMF conceived?

In July 1944 at a UN conference in the US.

What does the IMF do in terms of capacity development?

It gives technical assistance and training which helps member countries to design and implement policies that could advance the countries' economies greatly by increasing the capacity and skills of a nation.

How does the IMF's financial assistance help other countries?

It helps them to stabilise their currencies and fix international reserves as well as restore their economic growth rate.

What does the IMF do in terms of lending?

It loans money to members that are facing grave balance of payments problems and are in need of bail.

What does the IMF do in terms of surveillance?

It surveys the international monetary system and monitors the economic policies of all its members to make sure they abide to its aims.

What has the IMF made sure?

The exchange rate system does not collapse, which is fundamental for international trading.

What does the system of exchange rates allow?

The value being traded between countries to be transacted fairly and securely using a system which can be trusted.

What was the goal of the 44 countries present at the IMF's conception?

To avoid a repetition of the Great Depression in the 1930s.

What is the IMF's primary purpose?

To ensure that there is a stable international monetary system, i.e. the system of exchange rates.

One of the IMF's secondary aims is to make resources available to members experiencing...

balance of payments difficulties.

One of the IMF's secondary aims is to facilitate the...and...of international trade.

expansion; balanced growth

One of the IMF's secondary aims is to promote international...

monetary cooperation.

One of the IMF's secondary aims is to assist the establishment of a...

multilateral system of payments.

One of the IMF's secondary aims is to promote exchange...

stability.