Functions of the International Monetary Fund (IMF)
IMF mainly aims on supervising the international monetary system along with providing credits to the member nations. The functions of International monetary Fund can be categorised into three types:
- Regulatory Functions: IMF functions as a regulatory body and focuses on administrating a code of conduct for exchange rate policies and restrictions on payments for current account transactions as per the rules of the Articles of Agreeent.
- Financial Functions: IMF provides financial support and resources to the member nations to meet short term and medium term Balance of Payments (BOP) disequilibrium.
- Consultative Functions: IMF is a centre for international cooperation for the member nations. It also acts as a source of technical assistance.
International Monetary Fund (IMF)
International Monetary Fund (IMF) is an international financial institution established in 1944 with the primary goal of promoting global monetary cooperation, ensuring exchange rate stability, facilitating the balanced growth of international trade, and providing resources to help member countries facing balance of payments problems.
In this article, we will discuss the International Monetary Fund (IMF), the origin of the IMF, its controlling bodies, its objective, and its functions along with India’s relations with the IMF.
Table of Content
- What is the International Monetary Fund (IMF)?
- Formation of the International Monetary Fund (IMF)
- Organizational Structure of the International Monetary Fund (IMF)
- Objectives of the International Monetary Fund (IMF)
- Functions of the International Monetary Fund (IMF)
- India’s Relations with the International Monetary Fund (IMF)
- Global Inflation due to changes in Monetary Policy
- International Monetary Fund (IMF) UPSC
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