INTERNATIONAL MONETARY FUND

Logo /
Acronym / IMF
Name / International MonetaryFund
Date offoundation / 1945
Headquaters / Washington, UnitedStates
Members / 189 countries
Aims /
  • Topromote International monetarycooperation
  • To establish the Exchange rates
  • To facilitate the expansion and balanced growth of world trade
  • To help member states to control temporary imbalance

Particular Features / The IMF is funded by subscription fees paid by member countries, which exercise their right to vote in proportion to the contribution that they shed. IMF is controlled by the rich countries of the North, which are also the ones who really benefit from the "free" market. On the other hand the poorest countries on earth get loans only on condition of accepting what in practice is a policy of exploitation.
A critical movement called for a reform of the IMF to make the institution more democratic and adapted to the realities of the countries who "suffer" its policy.
The IMF works closely with the World Bank and in synergy with the G8 and the WTO.

Key words

  1. Free market
  2. Exchange rates
  3. Growth of World trade
  4. member states
  5. WTO and G8

Definition of key words:

(1)Free Market:

an economic system where the government does not interfere in business activity in any way.

(2)Exchange Rates:
Conversion rate of one currency into another. This rate depends on the local demand for foreign currencies and their local supply, country's trade balance, strength of its economy, and other such factors.

(3)world Trade:

The worldwide business that involves making and collecting payments for transactions in goods and services, transporting them to interested markets and to reduce the global trade barriers.

(4)Member-States:

States which are member of an organisation such as EU, IMF,WTO and G8.EU is an organization with 28 countires, IMF is an organization with 189 countires.

(5)WTO & G8:

WTO is an organisation that establishes rules of trade. it also handles trade disputes, monitors trade policies, provides technical assistance for developing countries and cooperates with other international trade organizations.

G8 stands for Group of Eight and is made up of leaders from Canada, France, Germany, Italy, Japan, Russia, the UK and the United States of America.

Representativesfromthesecountriesmeet to discusseconomicconcerns.

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