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International monetary fund (IMF)

International monetary fund (IMF)

 
   
  • The international monetary fund (IMF), as well as IBRD, was created in 1944 in Breton Woods (USA) and is inter-governmental finance-credit organization of assistance to a development of international trade and cooperation in currency sphere. Has the status of specialized establishment of the United Nations. Now members of a IMF are more than 180 states.
  • Into problems of a IMF enters:
    • Assistance to a development of international trade;
    • Development(manufacture) of the regulations of the courses of exchange and monitoring behind their observance;
    • Assistance of convertibility of the national currencies, removal(elimination) of exchange restrictions;
    • Maintaining stability of the pars of exchange;
    • Granting to the states - members of the credits for alignment of their balances of payments at currency difficulties.
  • The means of a IMF are shaped at the expense of the instalments of the members according to the established(installed) quota, magnitude by each from which depends on a level of an economic development of this or that country and its(her) role in world(global) economy and international trade. For alignment of balances of payments of the states - members of a IMF allots credits not in native currency of each country, as a IBRD, and in foreign. Credit operations are realized extremely with official organs of the countries - members of a IMF: by exchequers, central banks, currency stabilization funds.
  • From 24 executive directors of a IMF 7 are nominated as countries, engaging greatest quotas (Great Britain, China, France, Germany, Saudi Arabia, USA, Japan). Other executive directors are elected by the managers from other countries with observance of principles of regional representation. A staff - the flat of a IMF is disposed in Washington, the branches of fund also are in France and Switzerland.

 


 

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