IMF The International Monetary Fund The terms of the loans Advertising The international monetary fo

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IMF The International Monetary Fund The terms of the loans Advertising International monetary Fund INTERNATIONAL MONETARY FUND IMF the IMF is a specialized Agency of the United Nations established by the 185 member countries. Designed to regulate the monetary relations of the member States and assist them in the balance of payments deficit by providing short and medium - term loans in foreign currency. The Fund has the status of a UN specialized Agency. It serves as the institutional basis of the global monetary system. The world Bank and the international monetary Fund were founded in 1944 at a meeting of world leaders in Bretton woods in new Hampshire. Both the Bretton woods institutions as they are sometimes called was founded to supply the international economy on a sound footing after the Second world war. Member States of the IMF may become members of the Bank. In its activities the Bank and the Fund are complementary but there are quite significant differences between the functions performed by each of these agencies. The world Bank is a lending institution whose aim is to promote the integration of countries into the world economy and long-term economic growth contributing to improving the lives of people in poor countries. The IMF acts as the supervisor of world currencies contributing to the maintenance of an orderly system of payments between all countries, and lends money to member States experiencing serious balance of payments deficit. Unlike the world Bank funding as policy reforms and projects, the international monetary Fund deals exclusively with reforms. It provides loans to member States experiencing short-term difficulties in settlements with international lenders and is committed to achieving full convertibility of the currencies of the member States in the framework of the system of flexible exchange rates in force since 1973. The world Bank extends loans only to developing countries and countries with economies in transition. As for the IMF's services and resources is available to all member States of this organization as the rich and the poor. To help the Fund is able to do its job, it should be involved the vast majority of countries in the world. As international trade and investment knows no borders almost every country is forced to buy and sell foreign currency to Finance imports and exports. The IMF monitors such operations and consulting with member countries on how they can promote a liquid and stable international monetary system. Oil prices exceeded $ 70. a barrel on the report on stocks of raw materials and

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