Group membersGroup members

Zain Ullah 38

Muhammad Afnan 34

Adnan khan 13

Learning objectives

Fast facts

Formation 27 Dec 1945 Head Quarter Washington D.C united states membership 189 official language English Managing Director main organ Board of governors staff 2600 website www.imf.org

History At the end of world war second different countries realized

that there must be a common international forum for achieving economy cooperation, promoting international trade and providing help to needy nations during emergency.

Because world war second had adverse effect on global economy.

To remedy the situation an international monetary conference was convened in 1944, at Bretton woods New Hampshire in America.

It was attended by the representatives of 44 countries.

It was decided in the conference to set up IMF and IBRD for the economic development of all countries.

So IMF was found on 27th December 1945.

Founders

Member countries

Statistics department: Develops internationally accepted methodologies and standards. Provides technical assistance and training to promise best practices in the dissemination of economic and financial statistics.

Organizational structure of IMF

Board of Governors:

Executive Board:

Managing Director:

189

These 24 board of members represent all 189 countries.

Managing Director:The IMF is led by a managing director, who is head of the staff and serves as Chairman of the Executive Board. Historically the IMF's managing director has been European and the president of the World Bank has been from the United States.

What does it do?

• Surveillance• Lending• Technical assistance

Lending- IMF lending enables countries to rebuild their international

reserves; stabilize their currencies; continue paying for imports; and restore conditions for strong economic growth.

- IMF does not lend for specific projects.- It eases the adjustment policies and reforms that a country

must make to correct its balance of payments problem and restore conditions for strong economic growth.

Technical assistance• It supports the development of the

productive resources of member countries by helping them to effectively manage their economic policy and financial affairs.

• About 90 percent of IMF technical assistance goes to low and lower-middle income countries, particularly in Asia.

Similarities between IMF and World Bank

Owned and directed by governments of member nations.

Almost every country on earth is a member of both institution.

Both concern themselves with economic issues.

Both focuses on broadening and strengthening the economies of their member nations.

Hold joint annual meeting.Headquartered in washing D.C. USA.

conclusion

The IMF works to foster global growth and economic stability.

It provides policy advice and financing to members in economic difficulties.

IMF helps the developing nations to reduce poverty.This is essential for sustainable economic growth and

raising living standards.It is an international financial institution which deals

mainly with balance of payments, exchange rate, and international monetary concern.