IMF is a forum of national economic policies,

international monetary and financial systems, Which

involves active dialogue with each member country.
When there is a country who have a serious finance
problem, other countries loan the money for the poor
country. IMF is a kind of association among the
countries to prepare the situation when the nation
bank of country is bankrupted.
IMF is an administrative unit that is international in
nature and whose objective is to regulate and
administer the financial system of the world.

The IMF was conceived in July 1944, when

representatives of 45 governments meeting in the
town of Bretton Woods, New Hampshire, in the
NorthEastern United States, agreed on a framework
for international economic cooperation.
Bretton wood agreement was contracted in 1944 and
IMF was created in 1946.
IMF started to make service with IBRD
(international bank of rural and development) in
1947.

IMF headquarters is in Washington, USA.

Five largest shareholders are United States, Japan,
Germany, France, United Kingdom.
16 other executive directors are elected for two year
terms by groups of countries known as
Constituencies.
Total quotas of $312 billion; outstanding loans of $72
billion to 82 countries.
IMF is an organization of 186 countries.

IMF promotes international monetary cooperation.

Expansion and balanced growth of international
trade.
Promotes exchange rate stability.
Help establish multilateral system of payments and
eliminate foreign exchange restriction.
IMF make resources of the Fund available to
members.
Faster economic growth and high levels of
employment.

Focusing on its core macroeconomic and the

financial areas of responsibility.
Collection and allocation of reserves.
Rendering advice to member countries on their
international monetary affairs.
Promoting research in various areas of international
economics and monetary economics.
Providing a forum for discussion and consultation
among member countries.
Being in the center of competence.

Surveillance (like a doctor) - Gathering data and

assessing economic policies of countries.

Technical assistance (like a teacher) Strenghthening

human skills and institutional capacity of countries.

Financial assistance (like a banker) Lending to

countries to support reforms.

India and the IMF has a positive relationship. The IMF has provided
financial assistance to India, which has helped in boosting the countrys
economy.

IMF praised the country, when it was able to avoid the Asian Financial
Crisis in 1999 and was also able to maintain average rate of growth of its
economy.

In 2010, 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%.

IMF said that the reasons behind the economy growth of India are that the
RBI has been able to control inflation and has handled its monetory
policies very skillfully.

The IMF has suggested that India can become a financial super power
bringing in more reforms in its economic policies that will increase its
growth rate to 8%.

The IMF works to foster global growth and

economic stability. It provides policy advice
and financing to members in economic
difficulties and also works with developing
nations to help them achieve macroeconomic
stability and reduce poverty.