International Monetary Fund (IMF)

The IMF is a specialised UN agency, established in 1944 at the Bretton Woods Conference to ensure global monetary stability post the Great Depression.

International Monetary Fund (IMF)

International Monetary Fund (IMF) Latest News

Recently, the International Monetary Fund (IMF) approved the immediate disbursement of $1 billion to Pakistan under its Extended Fund Facility (EFF).

About International Monetary Fund (IMF)

  • The IMF is a specialised UN agency, established in 1944 at the Bretton Woods Conference to ensure global monetary stability post the Great Depression.
  • It promotes monetary cooperation, ensures financial stability, facilitates international trade, supports high employment, and works to reduce poverty.

Functions of the IMF

  • Provides economic surveillance of member countries and policy advice.
  • Offers financial assistance to countries facing balance-of-payments crises.
  • Delivers technical assistance and capacity-building support for sound economic governance.
  • IMF loans are usually conditional upon economic reforms to ensure fiscal discipline and long-term growth.

Membership and Voting Power

  • The IMF has 190 member countries.
  • Each member contributes a quota, based on its economic size and performance, which determines its voting power and access to funding.
  • Voting is determined by a formula: 1 vote per 100,000 SDRs of quota + basic votes.
  • SDRs (Special Drawing Rights) are an IMF-created international reserve asset, not a currency, but can be exchanged among members for freely usable currencies.

Organisational Structure

  • The Board of Governors (usually finance ministers or central bank governors) is the highest decision-making body.
  • Day-to-day affairs are run by a 24-member Executive Board.
  • The Managing Director, often a European, is the Chair of the Executive Board and leads the IMF staff.
  • The IMF is headquartered in Washington, D.C.

International Monetary Fund (IMF) FAQs

Q1: What is the primary function of the IMF?
Ans: The International Monetary Fund (IMF) provides financial assistance, economic surveillance, and technical support to member countries to maintain global monetary cooperation and stability.

Q2: When was the IMF established?
Ans: The IMF was established in 1944 at the Bretton Woods Conference and came into existence in 1945.

Source: TH

Latest UPSC Exam 2025 Updates

Last updated on June, 2025

UPSC Notification 2025 was released on 22nd January 2025.

UPSC Prelims Result 2025 is out now for the CSE held on 25 May 2025.

UPSC Prelims Question Paper 2025 and Unofficial Prelims Answer Key 2025  are available now.

UPSC Calendar 2026 is released on 15th May, 2025.

→ The UPSC Vacancy 2025 were released 1129, out of which 979 were for UPSC CSE and remaining 150 are for UPSC IFoS.

UPSC Mains 2025 will be conducted on 22nd August 2025.

UPSC Prelims 2026 will be conducted on 24th May, 2026 & UPSC Mains 2026 will be conducted on 21st August 2026.

→ The UPSC Selection Process is of 3 stages-Prelims, Mains and Interview.

UPSC Result 2024 is released with latest UPSC Marksheet 2024. Check Now!

UPSC Toppers List 2024 is released now. Shakti Dubey is UPSC AIR 1 2024 Topper.

→ Also check Best IAS Coaching in Delhi

Tags: International Monetary Fund (IMF)

Vajiram Editor
Vajiram Editor
UPSC GS Course 2026
UPSC GS Course 2026
₹1,75,000
Enroll Now
GS Foundation Course 2 Yrs
GS Foundation Course 2 Yrs
₹2,45,000
Enroll Now
UPSC Prelims Test Series
UPSC Prelims Test Series
₹6000
Enroll Now
UPSC Mains Test Series
UPSC Mains Test Series
₹16000
Enroll Now
UPSC Mentorship Program
UPSC Mentorship Program
₹85000
Enroll Now
Enquire Now