{"id":350,"date":"2021-04-27T02:49:59","date_gmt":"2021-04-27T02:49:59","guid":{"rendered":"https:\/\/enorcerna.com\/wiki\/what-is\/international-monetary-fund\/"},"modified":"2021-04-27T02:49:59","modified_gmt":"2021-04-27T02:49:59","slug":"international-monetary-fund","status":"publish","type":"post","link":"https:\/\/enorcerna.com\/wiki\/what-is\/international-monetary-fund\/","title":{"rendered":"International Monetary Fund"},"content":{"rendered":"
\n

What is the International Monetary Fund?<\/h2>\n

The International Monetary Fund (IMF) is a specialized cooperative body that centralizes the monetary system<\/strong> and promotes monetary stability<\/strong> to international level, <\/strong>Besides the financial cooperation<\/strong> among its member countries, contributing to the sustainable development<\/strong> and the poverty reduction<\/strong> In a global form.<\/p>\n

This entity is not only limited to dealing with the situations of its member countries, but its operation also influences the entire international monetary system.<\/p>\n

The IMF, whose headquarters are in Washington dc<\/strong>, United States, was created in the year [1945<\/strong> through an international treaty during the Bretton Woods conference,<\/strong> convened after World War II. It was formed with the intention of avoiding collapses in economic systems by dynamizing the rules accepted by the member countries, providing financial support<\/strong> according to its macroeconomic conditions and promoting debates related to global monetary issues.<\/p>\n

Objectives of the International Monetary Fund<\/h2>\n

Among the objectives of the IMF we can find the following:<\/p>\n

    \n
  • Promote the adoption of good economic policy practices in the countries to avoid financial crises<\/strong> in your systems.<\/li>\n
  • Promote the economic cooperation<\/strong> among its member countries.<\/li>\n
  • Guarantee the international monetary security<\/strong><\/li>\n
  • Promote the sustainability<\/strong> and the economic growth<\/strong> for the reduction of poverty.<\/li>\n
  • Energize a stable currency exchange<\/strong>.<\/li>\n
  • Support the multilateral system for the exchange of transactions between countries to benefit international trade.<\/li>\n<\/ul>\n

    Functions of the International Monetary Fund<\/h2>\n

    The main functions of the IMF are as follows:<\/p>\n

      \n
    • Regulatory function:<\/strong> restrict current disbursements or transactions within the context of their functions.<\/li>\n
    • Service delivery functions<\/strong> and informative:<\/strong> provide technical advice and training to requesting states in the implementation of adequate monetary policies.<\/li>\n
    • Financial function:<\/strong> financially and temporarily finance the countries to overcome the problems of the payment system of their members.<\/li>\n
    • Advisory role:<\/strong> supervise the monetary system at the international level and the policies carried out by the member countries.<\/li>\n<\/ul>\n

      Countries that promote it<\/h2>\n

      Membership in the IMF is voluntary<\/strong> and today they are part of it 190 countries.<\/strong><\/p>\n

      Only the sovereign nations<\/strong> they can be members. Companies, corporations or other types of institutions, even public, cannot be. On the other hand, membership of the IMF does not require the country to be a member of the United Nations, even though it is an agency of that body.<\/p>\n

      The IMF uses a particular voting system through which the country that contributes the largest quota, has the most power of determination in voting decisions.<\/p>\n

      The 5 countries<\/strong> Members who contribute the highest quotas to the IMF are:<\/p>\n

        \n
      • USA.<\/li>\n
      • Japan.<\/li>\n
      • Germany.<\/li>\n
      • France.<\/li>\n
      • UK.<\/li>\n<\/ul>\n\n\n\n\n\n
        Bibliography:<\/th>\n<\/tr>\n<\/thead>\n
        \n
          \n
        • Aglietta Michel and Moati Sandra. The IMF: from monetary order to financial disorder<\/em>. Editorial Akal. 2000.<\/li>\n
        • Clift Jeremy. What is the International Monetary Fund.<\/em> International Monetary Fund Department of Technology and General Services. 2004.<\/li>\n
        • International Monetary Fund. Organization and financial operations of the IMF<\/em>. Sixth edition. IMF Treasury Department. 2001.<\/li>\n
        • List of members<\/em>. Recovered from imf.org.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n
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          What is the International Monetary Fund? The International Monetary Fund (IMF) is…<\/p>\n","protected":false},"author":1,"featured_media":351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-is"],"_links":{"self":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/posts\/350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/comments?post=350"}],"version-history":[{"count":0,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/posts\/350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/media\/351"}],"wp:attachment":[{"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/media?parent=350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/categories?post=350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enorcerna.com\/wiki\/wp-json\/wp\/v2\/tags?post=350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}