-->

• Located in Washington DC, the International Monetary Fund, or IMF, is an international organization that tracks the economic policies of member nations, particularly policies affecting exchange rates, balance payments and debts, with the goal of stabilizing the international payment system.

  On April 25, 2009, the IMF announced their intention to sell bonds as a method of raising funds, a measure that will provide an alternative method to developing countries instead of long-term loans.KansasCity.com: IMF head says it will sell bonds to raise funds

• Fast Facts

  1. Created by 29 initial member countriesOfficial Site: IMF Overview
  2. Created as part of the Bretton Woods AgreementOfficial Site: IMF Overview
  3. Articles of Agreement signed on December 27, 1945Official Site: IMF Overview
  4. 185 member nationsOfficial Site: IMF Overview
  5. Located in Washington, DCOfficial Site: IMF Overview
  6. Loans money to member countries undergoing financial difficultiesHoover Institution: What is the International Monetary Fund?
  7. Countries accepting IMF loans must undergo recommended economic reformsHoover Institution: What is the International Monetary Fund?
  8. Each member country contributes to the IMF a quota of fundsHoover Institution: What is the International Monetary Fund?
  9. Size of quotas determine voting power and borrowing powerHoover Institution: What is the International Monetary Fund?
  10. The United States has the largest quota of all IMF member countriesHoover Institution: What is the International Monetary Fund?
  11. Quotas are based on the wealth of the nationHoover Institution: What is the International Monetary Fund?

• History

  Established in 1944, the IMF was created as part of the Bretton Woods Agreement. The IMF has also operated as a lender of last resort, helping economies that have suffered large scale crashes. The IMF has been criticized for supporting military dictatorships who stifle democracy and violate human and labor rights. Some of the economic policies of the IMF have also been criticized for stifling, instead of promoting, economic diversity and development.

• G20 Summit

  On April 2, 2009, the world's representatives at the G20 London summit agreed to give an additional $1 trillion in funding to the IMF and World Bank. The group stopped short, however, of putting together a stimulus package to aid the flailing global economy.Fox News: G-20 Leaders to Give ... (April 2, 2009)

• Related Mahalo Pages

  World Bank | WTO | Microfinance | Kiva | Globalization | World Bank | G20 Protests

Categories

• View History
• Discuss on the Message Board
• Embed this Page
• Share this page