The International Monetary Fund

The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It is an organization formed to stabilize international exchange rates and facilitate development.[2] It also offers financial and technical assistance to its members, making it an international lender of last resort. Its headquarters are located in Washington, D.C., USA.
What the IMF Does
The work of the IMF is of three main types. Surveillance involves the monitoring of economic and financial developments, and the provision of policy advice, aimed especially at crisis-prevention. The IMF also lends to countries with balance of payments difficulties, to provide temporary financing and to support policies aimed at correcting the underlying problems; loans to low-income countries are also aimed especially at poverty reduction. Third, the IMF provides countries with technical assistance and training in its areas of expertise. Supporting all three of these activities is IMF work in economic research and statistics.
In recent years, as part of its efforts to strengthen the international financial system, and to enhance its effectiveness at preventing and resolving crises, the IMF has applied both its surveillance and technical assistance work to the development of standards and codes of good practice in its areas of responsibility, and to the strengthening of financial sectors.
The IMF also plays an important role in the fight against money-laundering and terrorism
Strengthening the
International Financial System
|Transparency |
|Transparency at the IMF -- A Factsheet |
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|Standards and Codes |

References: • Jan Joost Teunissen and Age Akkerman (eds.) (2005). Helping the Poor? The IMF and Low-Income Countries. FONDAD. ISBN 90-74208-25-8.  • Dreher, Axel (2002) • Dreher, Axel (2004). "A Public Choice Perspective of IMF and World Bank Lending and Conditionality". Public Choice 119 (3–4): 445–464. doi:10.1023/B:PUCH.0000033326.19804.52.  • Dreher, Axel (2004) • Dreher, Axel (2003). "The Influence of Elections on IMF Programme Interruptions". The Journal of Development Studies 39 (6): 101–120. doi:10.1080/00220380312331293597.  • The Best Democracy Money Can Buy by Greg Palast (2002) • The IMF and The World Bank: How do they differ? by David D. Driscoll • Rivalries between IMF and IBRD, "Sister-talk", The Economist (2007-03-01) • George, S. (1988). A Fate Worse Than Debt. London: Penguin Books. • Hancock, G. (1991). Lords of Poverty: The Free-Wheeling Lifestyles, Power, Prestige and Corruption of the Multi-billion Dollar Aid Business. London: Mandarin. • Markwell, Donald (2006), John Maynard Keynes and International Relations: Economic Paths to War and Peace, Oxford & New York: Oxford University Press. • Rapkin, David P. and Jonathan R. Strand (2005) “Developing Country Representation and Governance of the International Monetary Fund,” World Development 33, 12: 1993-2011. • Strand, Jonathan R and David P. Rapkin (2005) “Voting Power Implications of a Double Majority Voting Procedure in the IMF’s Executive Board,” in Reforming the Governance of the IMF and World Bank, Ariel Buira, ed, London: Anthem Press. • Williamson, John. (August 1982). The Lending Policies of the International Monetary Fund, Policy Analyses in International Economics 1, Washington D.C., Institute for International Economics. ISBN 0-88132-000-5 [edit] External links • "Monetary Freedom Act" HR 391, by Congressman Ron Paul, 1981 • Bretton Woods Project Critical voices on the World Bank and IMF