International Monetary Fund

IMF which is the abbreviation of International Monetary Fund is the largest financial and economic organization of the world.

Functions of IMF

There are many major functions of this organization. The most important among these is the fostering of the global financial and economic growth of different regions of the world. In addition to this, it is also the responsibility of this organization to analyze and assess the economic growth on annual basis of the member countries. Then according to the prevalent scenario in these countries with weak economic growth, the suitable financial assistance is provided. There are many ways in which assistance can be provided. The most common of these provision of suitable policy advice and financing techniques to the member countries especially those who are facing any difficulty in economic sector. In this way the developing countries are also enabled to develop certain level of macroeconomic stability and therefore poverty can be reduced or eliminated from their countries.

Global status of IMF

Globally, IMF has been placed as the unique and the most important economic organization with providing the membership to almost 188 countries as present. Basically the organization is destined to help out the member countries in facing and managing the challenges in the contemporary economic world. In this way all the governments which are also members of this organization can rightly take the advantage of the opportunities provided globally. The success and working of this organization is marked by considerable movements of capital.

Services rendered for member countries

Presently many governments are being posed by the economic challenges as an effect of globalization. IMF helps these governments by tracking the prevailing trends and performances in the economic scenario. After tracking down the suitable economic resources, it is the responsibility of the organization to alert the member countries about those chances and also helps them out by indicating the problems in economic horizon. The most important of these services is the provision of a platform for dialogue and discussion about the current economic scenario. This will help the governments to cope with the economic problems and difficulties.