The IMF, also known as the Fund, was conceived at a UN conference in Bretton Woods, New Hampshire, United States, in July 1944. The 44 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s. The IMF’s primary purpose is to ensure the stability of the international monetary system – the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund’s mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability. Taken from: http://www.imf.org/en/About
Getting Started With the IMF
What is the IMF? (video)
What’s the difference between the IMF and the World Bank
Fiscal Policy and IMF’s Purpose
IMF Sources:
How does the IMF work? (Video Below)
Why the IMF lends (Video Below)
Articles of Agreement of the International Monetary Fund
IMF Lending:
IMF loans: which country owes the most?
What is Structural Adjustment?
IMF Structural Reforms: Initial Considerations for the IMF Fund
Organization:
Board of Governors: The Board of Governors is the highest decision-making body of the IMF.
Ministerial Committees: The IMF Board of Governors is advised by two ministerial committees, the International Monetary and Financial Committee (IMFC) and the Development Committee.
IMFC: The IMFC has 24 members, drawn from the pool of 187 governors. Committee discusses matters of common concern affecting the global economy and also advises the IMF on the direction its work.
Development Committee: The Development Committee is a joint committee, tasked with advising the Boards of Governors of the IMF and the World Bank on issues related to economic development in emerging and developing countries.
The Executive Board: The IMF’s 24-member Executive Board takes care of the daily business of the IMF. Taken from: http://www.imf.org/external/about/govstruct.htm
A Critical Perspective:
Who is the IMF and did they cause a famine in Africa?
The IMF, dictators, and the Arab World
David Harvey- 1973’s Oil Crisis, Wall Street, and the IMF
Joseph Stiglitz – Brics Bank and IMF
Structural Adjustment- A Major Cause of Poverty
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Further Reading on E-International Relations
- Online Resources – The Organization for Economic Co-operation and Development
- Online Resources – Organization of the Petroleum Exporting Countries
- Online Resources – Union for the Mediterranean
- Online Resources – The African Union
- Online Resources – Mercosur
- Online Resources – The South Asian Association for Regional Cooperation
