International Monetary Fund

From Wikiprogress.org

Background

The International Monetary Fund (IMF) is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. As the mission of the fund is to encourage economic stability on a multi-dimensional, global scale, the IMF's work ultimately contributes to economic progress and progress in general.^[1] 

The IMF was founded in the wake of World War II in order to facilitate the rebuilding of national economies and manage the stability of global exchange rates. Since 1944, the organization has been involved with determining solutions to major economic crisis', including those linked with the collapse of the Bretton Woods system, societal change in Eastern Europe post Cold-War, the Asian upheaval, and the recent economic recession.^[2] 

Contributions to Progress

In order to facilitate economic stability on an international scale, the IMF executes three specific functions: surveillance, technical assistance, and lending. These three activities enable the organization to track the economic policies and practices of member countries and to aid and guide member countries with low or middle-range incomes.^[3] Recently, the IMF upgraded its support of low-income countries, addressing increased vulnerabilities that have resulted from the global economic recession.^[4] On a broader scale, post-conflict countries have been major beneficiaries of technical assistance and lending.

Through strengthening international frameworks relating to economic policies and welfare, and providing assistance to areas in need of economic support, the IMF has contributed to progress on global, regional and national levels. 

See also

•  Economy

•  Economic Insecurity: Measurement, Causes and Policy Implications

References

• International Monetary Fund, About the IMF

• International Monetary Fund, History 
  
• International Monetary Fund, About Our Work
• International Monetary Fund, Tackling Current Challenges
• International Monetary Fund, About the IMFs Governance: Country Representation
• http://www.guardian.co.uk/business/2011/may/19/how-election-new-imf-managing-director-works
• http://www.guardian.co.uk/business/2011/may/19/how-election-new-imf-managing-director-works

External links

• www.imf.org/external/