The International Monetary Fund (IMF) is an organization of 187 countries (as of July 2010), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty. Its objectives are to promote international economic cooperation, international trade, employment, and exchange rate stability, including by making resources available to member countries to meet balance of payments needs. Its headquarters are in Washington, D.C.
The IMF is an international organization that was conceived on July 22, 1944 originally with 45 members and came into existence on December 27, 1945 when 29 countries signed the agreement with a goal to stabilize exchange rates and assist the reconstruction of the world’s international payment system. Countries contributed to a pool which could be borrowed from on a temporary basis by countries with payment imbalances. COMESA
The Common Market for Eastern and Southern Africa (COMESA) is a Regional Integration Grouping of 19 African States (Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe), which have agreed to promote regional integration through trade development and to develop their natural and human resources for the benefit of their people. COMESA was initially established in 1981 as the Preferential Trade Area for Eastern and Southern Africa (PTA) within the framework of the Organization of African Unity’s (OAU) Lagos Plan of Action and the final Act of Lagos. The PTA was transformed into COMESA in 1994. The COMESA Roadmap envisions progress through the stages of a Preferential Trade Area, Customs Union, Common Market – Free movement of Persons, Monetary Union and eventually an Economic Community. AIMS AND OBJECTIVES OF COMESA
i) To generate self-sustaining...