U3 IMF Flashcards
1
Q
Creation of the IMF
A
- IMF created at Bretton Woods in 1944
- Aims to prevent economic crises
- Ensures stability
2
Q
IMF’s Responsibilities
A
- Oversees exchange rates and international payments
- Provides financial assistance to countries with balance of payments issues
- Offers technical assistance to improve economic policies
3
Q
IMF Facts
A
- Membership: 188 countries
- Headquarters: Washington, D.C.
- Executive Board: 24 Directors representing countries or groups
- Staff: About 2,600 from 147 countries
- Total quotas: $327 billion
- Additional pledged resources: $885 billion
4
Q
IMF’s Mission
A
- Ensure stability
- provides assistance to member countries
5
Q
Surveillance
A
Monitors economic policies and advises on adjustments
6
Q
Lending
A
- Provides loans to countries with balance of payments difficulties
- Helps stabilize economies, rebuild reserves, and promote growth
7
Q
Technical Assistance
A
- Helps countries design effective economic policies
- Provides training and support in financial management
8
Q
Governance Structure
A
- Reflects positions of member countries
- Undergoes reforms to adapt to global economic changes
9
Q
IMF’s Historical Contributions
A
- Aided post-war reconstruction
- Addressed exchange rate collapses, debt crises, societal changes, and globalization impact
