International Monetary Fund
International Monetary Fund is an organisation composed of 190 countries that work in collaboration to ensure the stability of the international monetary system. It engages in global financial and economic affairs to promote growth and sustainability as well as facilitate international trade and cooperation.
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OVERVIEW
Headquartered in Washington DC, the International Monetary Fund (IMF) is a global organisation that seeks monetary stability through economic surveillance, lending and capacity development in collaboration its member countries.
IMF’s focus on the stability of the global monetary system is pursued by monitoring the movements of the global economy and of member countries, lending to member countries for balance of payment difficulties and working with member countries in the capacity development of their economy.
IMF details these mechanisms in factsheets and provides further informative resources in the form of:
- Flagship publications
- Other publications
- Regional Reports
- News
- Videos
- Data
- Events
In addition to economic surveillance, lending and capacity development, IMF also aims to combat key sustainability issues in climate change, gender, low-income countries and fiscal policy and to advance the fintech industry. IMF addresses issues through establishing policies and developing strategies in collaboration with the member countries. IMF is committed to Sustainable Development Goals (SDGs) and supports the member countries in their integration of the framework. In support of SDGs, IMF engagements are pursued with the SDG pillars of people, prosperity, planet, peace and partnership as the main rationale.
The organisation operates under a management composition of a Managing Director, appointed by an Executive Board, and a First Deputy Managing Director and three Deputy Managing Directors. The fundamental operation of IMF governance is aligned by the relative positions of the member countries which is consistently reformed to reflect changes in the global economy. IMF is held accountable by the member countries and is transparent in its practices as required by developed policies.
MISSION STATEMENT
The IMF’s fundamental mission is to ensure the stability of the international monetary system.
FUNDING SOURCES
IMF primarily sources funding from the member countries in the form of quotas that are assigned in alignment of their relative global economic position. Other sources of funding are Special Drawing Rights, gold and borrowing arrangements. Find out more