{"id":26208,"date":"2025-08-30T10:42:54","date_gmt":"2025-08-30T05:12:54","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=26208"},"modified":"2025-08-30T14:18:36","modified_gmt":"2025-08-30T08:48:36","slug":"international-monetary-fund-imf","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/international-monetary-fund-imf\/","title":{"rendered":"International Monetary Fund (IMF)"},"content":{"rendered":"<h2><strong>International Monetary Fund (IMF) Latest News<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed as Executive Director at the International Monetary Fund (IMF) for a three-year tenure, representing India, Bangladesh, Sri Lanka, and Bhutan at IMF headquarters in Washington, D.C.<\/span><\/p>\n<h2><strong>About International Monetary Fund (IMF)<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The International Monetary Fund (IMF) is a global financial body aimed at strengthening international monetary cooperation and maintaining financial stability.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Members: <\/b><span style=\"font-weight: 400;\">It currently has 191 member nations, with Liechtenstein joining as the newest member on October 21, 2024.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Creation: <\/b><span style=\"font-weight: 400;\">Created in 1944 at the Bretton Woods Conference, it works through a quota system, with countries contributing funds and receiving voting power proportional to their quotas.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mission: <\/b><span style=\"font-weight: 400;\">The core mission of the IMF is to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty worldwide.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Role: <\/b><span style=\"font-weight: 400;\">The IMF acts as a lender of last resort and often requires policy reforms from borrowing countries, called \u201cstructural adjustment\u201d programs.<\/span><\/li>\n<\/ul>\n<h2><strong>International Monetary Fund Governance Structure<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Board of Governors: <\/b><span style=\"font-weight: 400;\">It is the IMF\u2019s highest decision-making authority, comprising one governor and one alternate governor from each member country. It meets annually to decide on quota revisions, <a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/international-monetary-fund\/\" target=\"_blank\"><strong>Special Drawing Rights (SDR)<\/strong><\/a> allocations, new memberships, or expulsion of members.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>International Monetary and Financial Committee (IMFC): <\/b><span style=\"font-weight: 400;\">IMFC advises the Board of Governors on matters related to the management of the international monetary and financial system. It has 24 members drawn from the governors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Executive Board: <\/b><span style=\"font-weight: 400;\">They are responsible for conducting the day-to-day business and work closely with the Managing Director.<\/span><\/li>\n<\/ul>\n<p><b>Source: <\/b><a href=\"https:\/\/indianexpress.com\/article\/business\/urjit-patel-rbi-governor-imf-executive-director-10217819\/\" target=\"_blank\" rel=\"nofollow noopener\"><b>IE<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IMF is a specialised UN agency, established in 1944 at the Bretton Woods Conference to ensure global monetary stability post the Great Depression. Read more about International Monetary Fund (IMF), Functions, Membership, News.<\/p>\n","protected":false},"author":5,"featured_media":47322,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[421,21,22,23],"class_list":{"0":"post-26208","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-international-monetary-fund-imf","9":"tag-prelims-pointers","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/26208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=26208"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/26208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/47322"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=26208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=26208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=26208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}