IMF : THE GLOBAL ECONOMIC WATCHDOG

 

The International Monetary Fund is an international organization that aims to promote global economic cooperation , exchange rate stability , and the balanced growth of international trade . It was established in 1944 , at the Bretton Woods Conference , as a part of United Nations System.

The IMF 's primary purpose is to ensure the stability of the international money system -the system of exchange rates and international payments that enable countries to transact with each other . The funds mandate was updated in 2012 to include all macro economic and financial sector issues that bear on global stability.

One of the key ways that IMF promotes stability is by providing loans to countries experiencing economic difficulties. These loans are typically provided in exchange for set of economic policy reforms that are designed to correct the underlying problems causing difficulties . The IMF also provides technical assistance and training to help countries implement these reforms.

The IMF also conducts research and provides policy advice to its member countries on a wide range of economic issues . This includes topics such as macroeconomic policy, trade and financial sector regulations. Additionally the IMF plays a key role in the surveillance of the global economy and the identification of potential risks to stability.

It is important to note that the IMF is owned and financed by its member countries which are represented by their country . Each member country has a certain number of votes in the IMF , based on its economic size. This gives all member countries a say in the direction and policies of the organization.

Quotas : Each member country has a certain number of  votes in the IMF , based on its economic size . This is known as the quota , which is also the basis of for a member's financial commitment to the IMF .Quotas are periodically reviewed and adjusted to reflect changes in the global economy.

PUBLICATIONS

• Economic Surveys
• World economic outlook.
• Global financial stability report.
• Fiscal monitor.
• Regional economic outlook
• Wide range of research papers
• Statistical publications - International Financial conditions , The balance of payment statistics, Government finance statistics.