IMF International Monetary Fund. What is the IMF? The IMF is an international organization of 185...
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IMF International Monetary Fund. What is the IMF? The IMF is an international organization of 185 member countries. It was established to promote international
What is the IMF? The IMF is an international organization of
185 member countries. It was established to promote international
monetary cooperation, exchange stability, and orderly exchange
arrangements; to foster economic growth and high levels of
employment; and to provide temporary financial assistance to
countries to help ease balance of payments adjustments.
Slide 3
Why was it created? The IMF was conceived in July 1944, when
representatives of 45 governments meeting in the town of Bretton
Woods, New Hampshire, in the northeastern United States, agreed on
a framework for international economic cooperation.
Slide 4
What does it do? Surveillance Lending Technical assistance
Slide 5
Surveillance It is an assessment of economic and financial
developments, which provides a framework that facilitates the
exchange of goods, services, and capital among countries and
sustains sound economic growth. It consists in: Focusing on
assessing whether countries' policies promote external stability It
is to be remembered that surveillance is a collaborative, candid,
and evenhanded process between the Fund and its members
Slide 6
Lending -IMF lending enables countries to rebuild their
international reserves; stabilize their currencies; continue paying
for imports; and restore conditions for strong economic growth.
-IMF does not lend for specific projects. -It eases the adjustment
policies and reforms that a country must make to correct its
balance of payments problem and restore conditions for strong
economic growth.
Slide 7
Technical assistance It supports the development of the
productive resources of member countries by helping them to
effectively manage their economic policy and financial affairs.
About 90 percent of IMF technical assistance goes to low and
lower-middle income countries, particularly in sub-Saharan Africa
and Asia.
Slide 8
Success of the IMF: Jamaica The IMF praised the government for
tackling its huge debt burden and improving investor confidence. It
has also laid out plans to reduce the country's debt as a
percentage of GDP from its current level of 145% to 100% by 2009.
economic growth of up to 4% a year was possible, it said, given a
recovery in tourism and mining sectors.