What Is The Role Of International Monetary Fund? | UPSC International Relations
International Monetary Fund(IMF) is a global organization that aims to promote international monetary cooperation and exchange rate stability, facilitate the growth of international trade, and provide resources to its members facing payment difficulties.
IMF is established in 1994, and the headquarters are located in Washington D.C. It is composed of 190 member countries. The main purpose of IMF is to ensure the stability of the International monetary system that enables the countries to transact with each other.
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It provides financial assistance to countries facing economic difficulties. IMF also provides technical assistance and training to help countries improve their economic growth and management. By collecting and analyzing the financial data from the member countries, IMF provides policy advice.
It is important to understand that IMF plays a very crucial role in the global economy and sometimes its actions can impact various countries and their citizens as well. India being a member of the IMF receives financial assistance and access to the organizations’ resources. India must also abide by the conditions that are set forth by the IMF
The International Monetary Fund is a important organization that helps to maintain the stability in the global economy by providing monetary assistance to the countries who are in need. The decisions taken up by IMF can make a significant impact on countries and their citizens.
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