Lecture Notes on Imf

From a job creation perspective they can provide job opportunities via free trade agreements such as the Australia-United States Free Trade Agreement removing barriers to trade (Waddell, Jones and George, 2013). This allowing for more global demand and as such more unique jobs are created in both Australia and the United

to promote joint development in all fields of economic activity and the joint adoption of macro -economic policies and programmes; to raise the standard of living of its peoples, and to foster closer relations among its member

It is implied by the created nations to sustain the reliance of developing nations. Thus, the intercession on the arrangement and venture increases.

A country’s dominance in world trade, its status as the leading creditor and exporter of capital, initially underwrites its emergence as international money. The use of the currency of a country as the international reserve was both a logical outcome and a necessary basis of the development of capitalist internationally and the tremendous concentration of capital and trade flows in the hegemonic country. However, the perpetuation and preservation of its dominant role does not depends on its continued ‘creditor’ status but rather on its ability to attract and recycle capital from the rest of the world, while incurring a growing debt burden. It has to be the ‘borrower of last resort’. The imperative of maintaining international liquidity and maintaining sufficient global reserves depends on the ability of the country issuing the international money to sustain a deficit without eroding its status as a reserve currency.

The main function of the International Monetary Fund according to IMF fact sheet (2016, March 23) “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”. Simply put, the organization beginning with 44 countries and now 189, has one aim, to make sure there is a global or international stability in the world economy by monitoring resources and exchange rates across goods and services trading among member countries and ensuring that there would not be an economic collapse in respective member countries. Same IMF factsheet do more elaborating on their term surveillance as stated as “To maintain stability and prevent crises in the international

Because of the erosion of the foreign exchange especially in terms bauxite and alumina export, the money from the IMF can be used to pay for things like food and oil if the country cannot find enough of its own money to pay for them.

The IMF helps its members to design economic policies and manage their financial personal matters more effectively by strengthening their homo and institutional capacity through technical help and training. Technical foul assistance helps countries develop more effective institutions, legal framework, and policies to promote economic stableness and inclusive growth. Training through practical policy-oriented courses, hands-on workshops, and seminars strengthens functionary’ capacity to analyze economic developments and formulate and implement effective policies

The IMF (International Monetary Fund), 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 (https://www.imf.org/external/about.htm). Currently, the organization is headquartered in Washington, D. C. Originally, the IMF was designed to promote economic cooperation internationally and provide short term loans to member countries for the benefit of trade.

International Monetary Fund (IMF) aims to maintain and defeat and sometimes to restrain the financial crises. (BBC, 2012) Basically it was created to avoid another Great Depression with an economical cooperation. It was founded more than 60 years ago at the end of the II World War. (International Monetary Fund, 2015) Mostly the institution has directed to focus the developing world. Nowadays there are few purposes of the IMF such as monetary stability, exchange rate stability, facilitate trade, help their members with balance the payment difficulties and also to help with the poverty reduction. (International Monetary Fund, 2015)

International Monetary Fund Intro: In July 1944, the United Nations Monetary and Financial Conference met in Bretton Woods, New Hampshire, to find a way to rebuild and stabilize the world economy that had been severely devastated by World War II. One result of the conference was the founding of the International Monetary Fund (IMF) through the signing of its Articles of Agreement by 29 countries. The stated purposes of the IMF were to create international monetary cooperation, to stabilize currency exchange rates, to facilitate the expansion and balanced growth of international trade, and to make the IMF's general resources temporarily available to its members experiencing balance of payments difficulties under adequate

Any country may apply to be a part of the IMF. Post-IMF formation, in the early postwar period, rules for IMF membership were left relatively loose. Members needed to make periodic membership payments towards their quota, to refrain from currency restrictions unless granted IMF permission, to abide by the Code of Conduct in the IMF

The International Monetary Fund (IMF) is an international organization created in 1945 to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and to reduce poverty around the world. The IMF is governed and accountable to the 189 countries that make up the global membership of the organization. These goals make up the IMFs formal rules, the informal rules allow more access for powerful countries, such as the United States and Germany, to set their foreign policy goals through the facade of the IMF. The United States and other powerful nations like Germany, operate on a constraint conditionality that allows them to influence countries based upon their Western ideals and practices of democracy.

The world post World War II is in an economically more advanced state. The inception of the International Monetary Fund and the World Bank in 1945 had been extremely necessary in bringing temporary relief to the world. When the world was tottering at the heels of economic and social disorientation, courtesy closed economies and inward looking policies during the war, the above two institutions vowed to provide funds in the form of loans and aids to developed nations mainly to sustain tentative anomalies in the economy. This was considered to be an unprecedented move towards a long awaited path of economic globalisation which was yet to show its effects.

International monetary systems are sets of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable between buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements between international economic actors spread over several decades.

The Responsibilities of IMF: The primary objective of IMF remained confirming stability of international monetary system; exchange rates policy as well as international payments which enables nations (as well as citizens of them) for making transaction with each other. Such Fund’s mandate could be updated during 2012 for comprising every macroeconomic as well as financial segment issues which endures global sustainability.