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IMF International Monetary Fund Liam Gracielle Chato

IMF International Monetary Fund Liam Gracielle Chato. IMF Logo.wikimedia.Photo . 25 Nov 2010. When and where was it established?.

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IMF International Monetary Fund Liam Gracielle Chato

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  1. IMFInternational Monetary FundLiam Gracielle Chato IMF Logo.wikimedia.Photo. 25 Nov 2010

  2. When and where was it established? The IMF was established in 1994 at the Bretton Woods Conference in New Hampshire by 45 members or representatives. And in the year 1945, 29 other interested countries joined the organization. IMF, wikipedia.Web. 23 Nov 2010 IMF Bretton Woods Conference .imf.org. Photo. 27 Nov 2010

  3. Members and Meetings:

  4. IMF now has 187 members; The executive board is made up of U.S.A, Japan, Germany, France, and the United Kingdom. The IMF current chief is Dominique Strauss-Kahn. The European Union nominates the leader of IMF. The Board of Governors meet once a year (September or October) at the IMF and World Bank Annual Meetings. IMF Headquarters in Washington, D.C. IMF.wikipedia.Web. 23 Nov 2010 IMF Headquarters.Suite.101.images.28 Nov 2010 IMF and World Bank.bbc.co.uk.Web.28 Nov 2010

  5. Purpose and Goals: • The primary aim of IMF is to make sure that the international monetary system (IMS) is stable. • The IMF also provides assistance and training to help countries with their economic problems. • Serves as a conference or forum where its members can discuss national or global monetary problems. They also discuss policies made by IMF. • They also aim to reduce poverty all around the world by providing loans to developed and developing countries. IMF Purpose, imf.org. Web. 25 Nov 2010 International Financial and Economic Organizations presentation

  6. Some examples of what IMF offers:

  7. IMF lends money to countries to help them recover from their economic crisis. --> The value of the currency of Thailand (Baht) dropped down compared to other countries. To control the problem, Thailand asked IMF to lend them money to reinforce their economy. • The Fund gives advance warning of problems regarding the economy of the country. -->A formal system known as Surveillance was created to track down or review country policies regarding fiscal and monetary policy, exchange rate, general macroeconomic stability.. • Technical assistance --> They send out experts and private consultants to other nations to hold trainings and seminars about tax policy, how to spend government fund wisely, monetary and exchange rate policies. Adam Hibbert, Globalization.Raintree Publications.Chicago, Illinois. 2005 IMF Factsheet.imf.org.Web.23 Nov 2010. IMF and World Bank.Globalization101.Web.28 Nov 2010 IMF Surveillance.imf.org. Video. 28 Nov 2010 Video--- http://www.imf.org/external/about/econsurv.htm

  8. Promoting globalization and interdependence: According to IMF Deputy Managing Director, Stanley Fischer, “Globalization is the best way to ensure that the world becomes a more prosperous place, but it has to be implemented with safeguards to ensure it doesn't hurt people”. Even though some people are against globalization, for they blame this for the downfall of their economy and even violation of human rights, the IMF still tries to fight inequalities that these people are protesting. They continue on increasing their member countries’ economy output that could positively affect the global economy. IMF also uses the multilateral system payment. In a multilateral payment system, the foreign exchange limitations are excluded, as a result globalization is promoted as member countries don’t hesitate to trade with each other because they are not worried about tariffs and interests. In terms of interdependence, the resources (money) of IMF come from the quotas being paid by its member nations. These resources are being lend to other countries that has some economic problems. So, I think through this act, interdependence is being shown as countries also rely on other countries in an economic way. IMF and World Bank.Googleimages.Photo.27 Nov 2010 IMF Defends globalization. cnn.money.com. Web. 28 Nov 2010

  9. bibliography Adam Hibbert, Globalization.Raintree Publications.Chicago, Illinois. 2005 IMF.wikipedia.Web. 23 Nov 2010 IMF Bretton Woods Conference .imf.org. Photo. 27 Nov 2010 IMF Factsheet.imf.org.Web.23 Nov 2010. IMF Logo.wikimedia.Photo. 25 Nov 2010 IMF.wikipedia.Web. 23 Nov 2010 IMF Headquarters.Suite.101.Images.28 Nov 2010. IMF and World Bank.bbc.co.uk.Web.28 Nov 2010 IMF Purpose.imf.org. Web. 25 Nov 2010 Oney, Bilge and Besim, Mustafa.International Financial and Economic Organizations presentation. 26 Nov 2010 IMF and World Bank.Googleimages.Photo.27 Nov 2010 IMF Defends globalization. cnn.money.com. Web. 28 Nov 2010

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