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What is IMF?
The International Monetary Fund is a
global organisation founded in 1944. It
aims was to help stabilise exchange rates
and provide loans to countries in need.
Nearly all members of the United Nations
are members of the IMF with a few
exceptions such as Cuba, Lichtenstein
and Andorra.
Functions of IMF
Loans to Country;s with financial crisis : The IMF has $300 billion of loanable
funds. This comes from member countries who deposit certain amount on
joining. In times of financial / economic crisis, the IMF may be willing to
make available loans as part of a financial readjustment.
The IMF has arranged more than $180 billion in bailout packages
since 1997.
Technical assistance and economic training : The IMF produce many reports
and publications. They can also offer support for local economies.
India and the IMF has a positive relationship. The IMG has provided
financial assistance to India, which as helped in boosting the Countrys
economy.
The IMG praised the country for it was able to avoid Asian Financial
Crisis in 1999 and was able to maintain the average rate of growth of
its economy.
In 2005, the IMF said that the budget of India is very positive for it
points that the economy of the country will grow at the rate of 6.7%.
Problems of Iceland
Criticism of IMF
Conditions of Loans
Criticism of IMF
Devaluation
Supporting Military
Dictatorship
Conclusion
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