International Monetary Fund (IMF)

International Monetary Fund (IMF),

Definition of International Monetary Fund (IMF):

  1. The International Monetary Fund (IMF) is an international organization that promotes global economic growth and financial stability, encourages international trade, and reduces poverty. Quotas of member countries are a key determinant of the voting power in IMF decisions. Votes comprise one vote per 100,000 special drawing right (SDR) of quota plus basic votes. SDRS are an international type of monetary reserve currency created by the IMF as a supplement to the existing money reserves of member countries.

  2. UN specialized agency established in 1944 under Bretton Woods system to help prevent unstable exchange rates and competitive devaluations of pre-Second World War Western economies. It has since evolved into an organization of 184 countries focused on preventing crises in international monetary system via (1) surveillance through monitoring of national economies and economic policies, (2) medium-term loans to tide over balance-of-payment problems, and (3) technical assistance in formulating and administering monetary, exchange rate, and taxation policies, central bank operations, etc. Governed by a board of governors drawn from each member country, its day to day decisions are taken by a 24-member board who have voting-power in proportion to their respective countrys economic strength (and not on the basis of one-country, one-vote practice). The US (with about 18 percent of the voting-power), UK, France, Germany, and Japan are the most prominent members, followed by China, Russia, and Saudi Arabia. The other 16 members are elected from groups of countries called constituencies. IMF operates more like a credit union than an investment bank because its capital (currently about $300 billion) is contributed by its members based on a quota proportional to the members economic strength. Members can borrow against this contribution, but lending is conditional on the borrowers pledge to follow certain hard choices such exchange rate devaluation, cuts in social spending, control on wages, and removal of price controls. Except in case of the poorest nations, loans are advanced on market interest rates (currently about 3 percent) and, if the borrowing exceeds the members quota, more onerous conditions (called conditionalities) are imposed. Unlike the World Bank, IMF does not provide project-specific loans but only temporary lending (up to 10 years) for rebuilding of foreign exchange reserves, stabilization of the currency, and payments for imports.

  3. An international organization established in 1945 which aims to promote international trade and monetary cooperation and the stabilization of exchange rates.

  4. The International Monetary Fund (IMF) is based in Washington, D.C. The organization is currently composed of 189 member countries, each of which has representation on the IMF's executive board in proportion to its financial importance. Quotas are a key determinant of the voting power in IMF decisions. Votes comprise one vote per SDR100,000 of quota plus basic votes (same for all members).

How to use International Monetary Fund (IMF) in a sentence?

  1. The IMF was originally created in 1945 as part of the Bretton Woods agreement, which attempted to encourage international financial cooperation by introducing a system of convertible currencies at fixed exchange rates.
  2. The International Monetary Fund was a really prestigious place and I wanted to study it and figure out exactly how it worked.
  3. The IMF's mission is to promote global economic growth and financial stability, encourage international trade, and reduce poverty around the world.
  4. The United Nations created a specialized agency called the International Monetary Fund to stabilize the worlds currencies and maintains a monetary pool from which member nations can draw in order to correct a deficit in their balance of payment.
  5. You must make sure that you always do things about board so that the international monetary fund doesnt start looking in to you.

Meaning of International Monetary Fund (IMF) & International Monetary Fund (IMF) Definition

International Monetary Fund (IMF),

International Monetary Fund (IMF): What is the Meaning of International Monetary Fund (IMF)?

  1. You can define International Monetary Fund (IMF) as, The International Monetary Fund (IMF) is an international organization that promotes global economic growth and financial stability, promotes international trade and reduces poverty. The quota of member states is an important commitment to the right to vote in IMF decisions. The vote includes one vote for every 100,000 special drawing rights (SDRs) plus one basic vote. The SDRS is a type of international reserve currency created by the IMF to replenish existing reserve assets of member countries.

    • The IMF's mission is to promote global economic growth and financial stability, promote international trade and reduce global poverty.
    • The IMF was started in 1945 under the Bretton Woods Agreement, which sought to promote international financial cooperation by introducing a system of exchangeable currencies with fixed exchange rates.

  2. A simple definition of International Monetary Fund (IMF) is: IMF It was founded by the United Nations in 1944 to oversee the exchange system and promote trade between member countries. It also lends money to developing countries that are suffering from economic hardship.

  3. The international organization was founded in 1945 with its headquarters in Washington, DC. One of the goals of the IMF is to promote international financial cooperation, expand international trade and facilitate balance growth, and increase currency stability.

Literal Meanings of International Monetary Fund (IMF)

International:

Meanings of International:
  1. It exists, occurs, or occurs between two or more countries.

  2. A game or competition between teams representing different countries in a game.

  3. One of the four associations for the promotion of socialist or communist action (1864-1936).

Sentences of International
  1. International exchange

  2. Murray Field Rugby International

  3. The international highlighted the solidarity and support of the Paris Commune, but it was crushed by the ruling class.

Synonyms of International

intercontinental, worldwide, global

Monetary:

Meanings of Monetary:
  1. In terms of money or currency.

Sentences of Monetary
  1. Documents of small or no financial value

Synonyms of Monetary

fiscal, money, pecuniary, financial, capital, economic, cash, budgetary

Fund:

Meanings of Fund:
  1. Quantities are stored or available for a specific purpose.

  2. Pay for a specific purpose.

Sentences of Fund
  1. Created a fund to coordinate economic investment

  2. The World Bank refused to finance the project

Synonyms of Fund

provide capital for, pay for, underwrite, purse, collection, support, kitty, back, subsidize, be a patron of, reserve, pool, maintain, put up the money for, sponsor, capitalize, finance, provide finance for, float, endow

IMF: