Accordingly, the head office of IMF is located at Washington. (iv) To assist in the establishment of a multilateral system of payments in respect to current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade? The International Monetary Fund or the Fund refers to an organization made of 188 countries that work towards fostering monetary cooperation globally, securing financial stability, facilitating international trade, promoting high employment, reducing poverty and enhancing sustainable growth economically across the world. As per Fund Agreement, the headquarters of the IMF should be located in that country which usually possess the highest quota of capital of the IMF. Accordingly, the most of the countries are making extensive use of the trade and exchange controls.In spite of achieving some degree of success by the IMF in certain areas, the Fund suffers as a result of failures in many fronts.The IMF, which started functioning in March 1947, is an autonomous organisation and is affiliated to U.N.O. The International Monetary Fund was established in 1944 as a result of a conference held at Bretton woods, New Hampshire in USA. To promote international monetary consultation, cooperation and collaboration. The main objectives of the Fund, as summarised in the Articles of Agreement, are as follows: (i) To promote international monetary cooperation through a permanent institution that provides the machinery for consultation and collaboration on international monetary problems. It primarily aims for the eradication of global poverty by ensuring sustainable economic growth.
History of IMF: The establishment of International Monetary Fund is a great landmark in the history of international monetary cooperation. To promote international monetary co-operation through a permanent institution which provides the machinery for consultation and collaboration on international problems. Another objective of IMF is to help the member countries, especially the backward countries, to attain balanced economic growth by exchange the level of employment.
ADVERTISEMENTS: Let us make an in-depth study of the history, objectives, organisation, capital and quotas of International Monetary Fund (IMF). These are: To promote international cooperation by providing the machinery for consultation and collaboration by members on international monetary issues. The Articles of Agreement of the IMF set out the following as the objectives of the Fund: 1. Before publishing your articles on this site, please read the following pages:i. It primarily aims for the eradication of global poverty by ensuring sustainable economic growth. Origin of IMF: The origin of the IMF goes back to the days of international chaos of the 1930s.