International Monetary Fund

The objectives of the subject “International Monetary Fund (IMF)” are the following:

1. To understand the goals and organisation of the International Monetary Fund
2. To analyse the main areas of activity of the IMF (supervision, technical, and financial assistance)
3. To understand the concept of “Special Drawing Right (SDR)”
4. To know the IMF role in the global economic crisis and the global financial stability
5. To learn to use the macroeconomics information provided by the IMF
6. To analyse the role of the International Monetary Fund in the world trade

Description: International Monetary Fund.

The International Monetary Fund (IMF) is an organisation of 189 countries, working to:

1. Promote the global monetary cooperation
2. Secure the financial stability
3. Make the international trade easy
4. Promote a high employment and sustainable economic growth, and
5. Poverty reduction

The International Monetary Fund is uniquely placed to help to the governments of the IMF members to take advantage of the opportunities and manage the defiance posed by the globalisation and the economic development.

The International Monetary Fund tracks the global economic trends, and efficiency alerts its member countries when it sees troubles on the horizon, provides a forum for the policy dialogue, and passes the know-how to the governments on how to tackle the economic difficulties.

Helping a nation benefit from the globalisation while averting the potential downsides is an important task of the International Monetary Fund (IMF).

The global economic crisis has highlighted just how interconnected have become the countries in the world economy.

To become an IMF member, a nation must apply and then be accepted by a majority of the existing members.

The SDR (Special Drawing Rights) is an international reserve asset, created by the International Monetary Fund (IMF) in 1969 to supplement its member countries' official reserves. Its value is based on a basket of four key International currencies, and Special Drawing Rights can be exchanged for freely usable currencies.

The member countries of the International Monetary Fund (IMF) are Afghanistan, Albania, Andorra, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Costa Rica, Ivory Coast, Croatia, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini (Swaziland), Ethiopia, Fiji, Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kosovo, Kuwait, Kyrgyz Republic, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Lithuania, Luxembourg, Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, Netherlands Antilles, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Republic of the Congo, Romania, Russia, Rwanda, Samoa, San Marino, São Tomé and Príncipe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Korea, Spain, Sri Lanka, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Sudan, Suriname, Sweden, Switzerland, Syria, Tajikistan, Tanzania, Thailand, East Timor, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe.

1. Andorra became the 190th member on 16 October 2020
2. Not-Members: Cuba, Liechtenstein, Monaco and North Korea