International Monetary Fund

IMFInternational Monetary Fund (IMF)World Economic OutlookArticles of Agreement of the International Monetary FundInternational Monetary and Financial Committeethe International Monetary Fundthe International Monetary Fund (IMF)IMF crisisInternational Money Fund5th Managing Director of the IMF
The International Monetary Fund (IMF), also known as the Fund, is an international organization headquartered in Washington, D.C., consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on World Bank for its resources.wikipedia
3,994 Related Articles

Washington, D.C.

Washington, DCWashington D.C.District of Columbia
The International Monetary Fund (IMF), also known as the Fund, is an international organization headquartered in Washington, D.C., consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on World Bank for its resources.
The city hosts 177 foreign embassies as well as the headquarters of many international organizations, trade unions, non-profits, lobbying groups, and professional associations, including the World Bank Group, the International Monetary Fund (IMF), the Organization of American States, AARP, the National Geographic Society, the Human Rights Campaign, the International Finance Corporation, and the American Red Cross.

Kristalina Georgieva

The current Managing Director (MD) and Chairwoman of the International Monetary Fund is Bulgarian Economist Kristalina Georgieva, who has held the post since 1 October 2019.
Kristalina Ivanova Georgieva-Kinova (Кристалина Иванова Георгиева-Кинова; born 13 August 1953) is a Bulgarian economist, who is the managing director of the International Monetary Fund.

Harry Dexter White

Harry White
Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.
At Bretton Woods, White was a major architect of the International Monetary Fund and World Bank.

World Bank

The World BankIBRDWorld Bank Group
The International Monetary Fund (IMF), also known as the Fund, is an international organization headquartered in Washington, D.C., consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on World Bank for its resources. It is also part of the World Bank Millennium Development Goals and Poverty Reduction Strategic Papers.
The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF).

Poverty

poorlow-incomeindigent
The International Monetary Fund (IMF), also known as the Fund, is an international organization headquartered in Washington, D.C., consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on World Bank for its resources.
It has been argued by some academics that the neoliberal policies promoted by global financial institutions such as the IMF and the World Bank are actually exacerbating both inequality and poverty.

Bretton Woods Conference

United Nations Monetary and Financial ConferenceBretton WoodsBretton Woods agreements
Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.
Agreements were signed that, after legislative ratification by member governments, established the International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund (IMF).

Special Data Dissemination Standard

The International Monetary and Financial Committee (IMFC) endorsed the guidelines for the dissemination standards and they were split into two tiers: The General Data Dissemination System (GDDS) and the Special Data Dissemination Standard (SDDS).
Special Data Dissemination Standard (SDDS) is an International Monetary Fund standard to guide member countries in the dissemination of national statistics to the public.

Gita Gopinath

Gita Gopinath was appointed as Chief Economist of IMF from 1 October 2018.
Gita was appointed as chief economist of the International Monetary Fund in October 2018.

Bretton Woods system

Bretton WoodsBretton Woods AgreementBretton Woods Institutions
Since the demise of the Bretton Woods system of fixed exchange rates in the early 1970s, surveillance has evolved largely by way of changes in procedures rather than through the adoption of new obligations.
The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained its external exchange rates within 1 percent by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments.

IMF Stand-By Arrangement

Stand-By ArrangementStand-By Arrangementsstand-by
Nonconcessional loans, which include interest rates, are provided mainly through Stand-By Arrangements (SBA), the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Extended Fund Facility.
The IMF Stand-By Arrangement (SBA) is an economic program of the International Monetary Fund (IMF) involving financial aid to a member state in need of financial assistance, normally arising from a financial crisis.

Washington Consensus

macroeconomic adjustmentneoliberal agendaneoliberal policy
These conditions are known as the Washington Consensus.
The Washington Consensus is a set of 10 economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C.-based institutions such as the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.

Millennium Development Goals

Millennium Development GoalMDGUN Millennium Development Goals
It is also part of the World Bank Millennium Development Goals and Poverty Reduction Strategic Papers.
To accelerate progress, the G8 finance ministers agreed in June 2005 to provide enough funds to the World Bank, the International Monetary Fund (IMF) and the African Development Bank (AfDB) to cancel $40 to $55 billion in debt owed by members of the heavily indebted poor countries (HIPC) to allow them to redirect resources to programs for improving health and education and for alleviating poverty.

Fixed exchange rate system

fixed exchange ratepeggedfixed
Upon the founding of the IMF, its three primary functions were: to oversee the fixed exchange rate arrangements between countries, thus helping national governments manage their exchange rates and allowing these governments to prioritize economic growth, and to provide short-term capital to aid the balance of payments.
The regime intended to combine binding legal obligations with multilateral decision-making through the International Monetary Fund (IMF).

Balance of payments

balance of paymentbalance-of-paymentsaccount balance
Upon the founding of the IMF, its three primary functions were: to oversee the fixed exchange rate arrangements between countries, thus helping national governments manage their exchange rates and allowing these governments to prioritize economic growth, and to provide short-term capital to aid the balance of payments. It now plays a central role in the management of balance of payments difficulties and international financial crises.
The International Monetary Fund (I.M.F.) use a particular set of definitions for the BoP accounts, which is also used by the Organisation for Economic Co-operation and Development (OECD), and the United Nations System of National Accounts (SNA).

Austerity

austerity measuresfiscal austerityaustere
The IMF sometimes advocates "austerity programmes", cutting public spending and increasing taxes even when the economy is weak, to bring budgets closer to a balance, thus reducing budget deficits.
International financial institutions such as the International Monetary Fund (IMF) may demand austerity measures as part of Structural Adjustment Programmes when acting as lender of last resort.

Financial crisis

economic crisisfinancial criseseconomic crises
This assistance was meant to prevent the spread of international economic crises.
For example, the former Managing Director of the International Monetary Fund, Dominique Strauss-Kahn, has blamed the financial crisis of 2007–2008 on 'regulatory failure to guard against excessive risk-taking in the financial system, especially in the US'.

John Maynard Keynes

KeynesMaynard KeynesJ. M. Keynes
Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.
His plans during World War II for post-war international economic institutions and policies (which contributed to the creation at Bretton Woods of the International Monetary Fund and the World Bank, and later to the creation of the General Agreement on Tariffs and Trade and eventually the World Trade Organization) were aimed to give effect to this vision.

1998–2002 Argentine great depression

Argentine economic crisiseconomic crisisArgentine economic crisis (1999–2002)
The IMF provided two major lending packages in the early 2000s to Argentina (during the 1998–2002 Argentine great depression) and Uruguay (after the 2002 Uruguay banking crisis).
Argentina repaid its International Monetary Fund loans in full in 2006, but had a long dispute with the 7% of bond-holders left.

European troika

TroikaThe Troikacreditors' institutions
The so-called Troika, of which the IMF is part, are joint managers of this programme, which was approved by the Executive Directors of the IMF on 15 March 2012 for XDR 23.8 billion and saw private bondholders take a haircut of upwards of 50%.
The European troika is a term used, especially in the media, to refer to the decision group formed by the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF).

Embedded liberalism

The IMF was one of the key organisations of the international economic system; its design allowed the system to balance the rebuilding of international capitalism with the maximisation of national economic sovereignty and human welfare, also known as embedded liberalism.
New global multilateral institutions were created to support the new framework, such as the World Bank and the International Monetary Fund.

Jacques J. Polak

J. J. PolakJacques (JJ) PolakJacques Polak
Stemming primarily from the work of Jacques Polak, the theoretical underpinning of conditionality was the "monetary approach to the balance of payments".
He was a member of the Netherlands delegations to the 1944 Bretton Woods Conference establishing the International Monetary Fund and to the Atlantic City conference that established the United Nations Relief and Rehabilitation Administration (UNRRA).

Greek government-debt crisis

Greek financial crisisGreek debt crisisGreek government debt crisis
In May 2010, the IMF participated, in 3:11 proportion, in the first Greek bailout that totalled €110 billion, to address the great accumulation of public debt, caused by continuing large public sector deficits.
Despite these efforts, the country required bailout loans in 2010, 2012, and 2015 from the International Monetary Fund, Eurogroup, and European Central Bank, and negotiated a 50% "haircut" on debt owed to private banks in 2011, which amounted to a €100bn debt relief (a value effectively reduced due to bank recapitalisation and other resulting needs).

Kosovo

Republic of KosovoKosovarKosovan
Amidst "member countries" of the IMF that are not member states of the UN are non-sovereign areas with special jurisdictions that are officially under the sovereignty of full UN member states, such as Aruba, Curaçao, Hong Kong, and Macau, as well as Kosovo.
Kosovo is a member of the International Monetary Fund, World Bank, Regional Cooperation Council, and has applied for membership of Interpol and for observer status in the Organization of the Islamic Cooperation.

Jamaica Accords

The changes to the IMF articles of agreement reflecting these changes were ratified by the 1976 Jamaica Accords.
They took the form of recommendations to change the "articles of agreement" that the International Monetary Fund (IMF) was founded upon.

International monetary systems

international monetary systemBretton Woods IIinternational monetary and financial order
Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.
Two international institutions, the International Monetary Fund (IMF) and the World Bank were created.