OTHERS

International Monetary Fund

The International Monetary Fund, or IMF, promotes international financial stability and monetary cooperation. It also facilitates international trade, promotes employment and sustainable economic growth, and helps to reduce global poverty. The IMF is governed by and accountable to its 189 member countries

http://www.intraders.org

Founding and mission:
The IMF was conceived in July 1944 at the United Nations Bretton Woods Conference in New Hampshire, United States. The 44 countries in attendance sought to build a framework for international economic cooperation and avoid repeating the competitive currency devaluations that contributed to the Great Depression of the 1930s.
The IMF’s primary mission is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other.
The IMF is accountable to its member country governments.

Objectives
• 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
• facilitate the expansion and balanced growth of International Trade
• establish a multilateral system of payments

Functions
These are the three major functions of IMF:-
 The IMF provides advice on how to achieve economic stability, reduce vulnerability to economic and financial crises, and raise living standards.
 The IMF provides financial support and works with governments to ensure responsible spending.
 The IMF works with member countries & provides technical assistance and training to modernize there economic policies and institutions.

Purpose of IMF
• Promote international monetary cooperation
• Expansion and balanced growth of international trade
• Promote exchange rate stability
• The elimination of restrictions on the international flow of capital
• Make resources of the fund available to the members
• Help establish a multilateral system of payments and eliminate foreign exchange restrictions.
• Shorten the duration and lessen the degree of disequilibrium in international balances of payment.
• Foster economic growth and high levels of employment.
• Temporary financial assistance to countries to help the balance of payments adjustments

Success of IMF
 International Monetary Cooperation
 Reconstruction of European Countries
 Multilateral System of Foreign Payments
 Increase in International Liquidity
 Increase in International Trade
 Special Aid to Developing Countries
 Providing Statistical Information
 Helpful in Times of Difficulties
 Easiness & Flexibility in Making International Payments

Failures of IMF
 Lack of Stability in Exchange Rate
 Lack of Stability in the Price of Gold
 Inability to Remove Restrictions on Foreign Trade
 Rich Nations Club
 No help for development projects
 No Solution of International Liquidity
 Interference in Domestic Economies
 Inability to tackle the Monetary Crisis of August 1971
 Less Aid for Developing Countries
 High Rate of Interest
By
NIKHIL KHANDELWAL
BBA 6MA
TIAS, NEW DELHI

The 5th InTraders International Conference On International Trade, 13-17 April 2020, İstanbul, Turkey

Be Our InTraders’ Author for Free of Registration to InTraders’ Conferences

Rashmi Gujrati

Prof. Dr. Rashmi Gujrati , Professor, Institute: Management College. India Qualification: M.com, MBA, Ph.D. Specialization: Marketing, Finance & International Business Regulatory board Member of InTraders Academic Platform • Life member of India Commerce Association • Life member of Indian Accounting Association • Life member of Association of Indian College Principals • Member of Foundation Social Science Research FSSER Malaysia Reviewer Committee member of IBIMA Association Spain. • Scientific & Review committee, Advisory Board, Editorial research projects of AASE as a trainer/consultant/researcher AASE Member Chung Yaun Christiana University Taiwan.

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