Talking Points IMF – Academic

The International Monetary Fund (IMF)

WHAT WE DO

  • Cooperative financial institution
    • Ensures stability exchange rates/payments

HISTORY

  • Founded 1944
    • UN conference – Bretton Woods, New Hampshire
    • 29 countries
  • Separate UN body formally established 1945 

OVERVIEW

  • Headquarters Washington D.C.
    • 189 members
    • 2,700 employees
      • 148 countries
    • Accountable to governments
    • SDR = IMF International reserve asset

ORIGINAL AIMS

  • Cooperation – international monetary problems
  • Facilitate international trade
  • Promote exchange rate stability
  • Establishment multilateral systems of payments
  • Lend $ to countries with payment problems

SCOPE OF WORK

  • Surveillance of risks and financial policies
  • Financial lending to countries with payment problems
  • Technical assistance and training on economic policies

RESOURCES & QUOTA SYSTEM

  • Quotas contributions (US $668 billion)
    • Voting power % = Quota contribution %
  • Borrowing agreements

ORGANIZATIONAL STRUCTURE

  • Board of Governor
    • Approves amendments, resources allocations, admissions/withdrawals
    • 189 Countries vote
  • 24 Executive Board
    • Analyzes countries economy and policies
  • Managing Director: Christine Lagarde
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