What does imf

The people charged with protecting the world's economy are meeting in Washington this week. But what is the IMF, why is it important, and what criticism does it face? The IMF is an international organisation with member countries.

They work together to try to stabilise the global economy. Any country can apply to join, as long as it meets a few requirements. These include providing information about its economy and paying in a sum of money called a quota subscription.

The richer the country, the higher its quota. The IMF does three main things to monitor and support the economy:. These loans are mainly funded by quota subscriptions. Bankers, government officials and company bosses discuss the most important economic issues of the day at the IMF's meetings.

Members then try to make sure their plans are co-ordinated. It's expected that trade tensions, weak economic growth, a slowdown in manufacturing and companies' debts will be big topics this year. The IMF is often described as a "lender of last resort". In times of crisis, countries look to it for financial assistance. Economists like Harvard University's Benjamin Friedman have said it's difficult to measure the organisation's success because we can't know if its policies are "worse than whatever the alternative would have been".

However, some praised the Fund's role in supporting Mexico after it declared it would be unable to repay its debts in the early s. Annual Meetings Select a year Cancel No Thanks Yes, I'll provide feedback. What was the purpose of your visit to worldbank. Did the layout and navigation of the new site help you locate what you were looking for? Yes No. Do you have any other feedback on the new version of our website? If you are willing to be contacted in the future to help us improve our website, please leave your email address below.

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We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Part Of. Fiscal Programs. Monetary Policy Programs. International Stimulus Efforts. Economy Monetary Policy. What Is the International Monetary Fund? Key Takeaways The IMF's mission is to promote global economic growth and financial stability, encourage international trade, and reduce poverty around the world.

The IMF was originally created in as part of the Bretton Woods agreement, which attempted to encourage international financial cooperation by introducing a system of convertible currencies at fixed exchange rates.

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