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International Monetary Fund. Finance Dept.

Abstract

The International Monetary Fund was founded some 70 years ago near the end of World War II. The founders aimed to build a framework for economic cooperation that would forestall the kinds of economic policies that contributed to the Great Depression of the 1930s and the global conflict that ensued. The world has changed dramatically since 1944, bringing extensive prosperity to many countries and lifting millions out of poverty. The IMF has evolved as well, but in many ways its main purpose—to support the global public good of financial stability and prosperity—remains the same today as when the organization was established.

International Monetary Fund. Finance Dept.

Abstract

The International Monetary Fund was founded in December 1945 near the end of World War II. The founders aimed to build a framework for economic cooperation that would forestall the kinds of economic policies that contributed to the Great Depression of the 1930s and the global conflict that ensued. The world has changed dramatically since 1945, bringing extensive prosperity to many countries and lifting millions out of poverty. The IMF has evolved as well, but in many ways its main purpose—to support the global public good of financial stability and prosperity—remains the same as when the organization was established.

International Monetary Fund. Finance Dept.

Abstract

The IMF resources are held in the General Department, which consists of three separate accounts: the General Resources Account (GRA), the Special Disbursement Account (SDA), and the Investment Account (IA). The GRA is the principal account of the IMF and handles by far the largest share of transactions between the IMF and its members. The GRA can best be described as a pool of currencies and reserve assets largely built from members’ fully paid capital subscriptions in the form of quotas (Box 2.1).

International Monetary Fund. Finance Dept.

Abstract

The IMF resources are held in the General Department, which consists of three separate accounts: the General Resources Account (GRA), the Special Disbursement Account (SDA), and the Investment Account (IA). The GRA is the principal account of the IMF and handles by far the largest share of transactions between the IMF and its members. The GRA can best be described as a pool of currencies and reserve assets largely built from members’ fully paid capital subscriptions in the form of quotas (Box 2.1).

International Monetary Fund. Finance Dept.

Abstract

The IMF’s financial assistance for low-income countries (LICs) is composed of concessional loans and debt relief.

International Monetary Fund. Finance Dept.

Abstract

The IMF’s financial assistance for low-income countries is composed of concessional loans and debt relief.

International Monetary Fund. Finance Dept.

Abstract

Special drawing rights (SDRs) were created in 1969 as an international reserve asset to supplement other reserve assets whose growth was seen as inadequate to finance the expansion of international trade and finances under the Bretton Woods system in the postwar period and to support the Bretton Woods fixed exchange rate system. The creation of the SDR was intended to make the regulation of international liquidity subject, for the first time, to international consultation and decision. The SDR is not a currency, nor is it a claim on the IMF. Instead, it is a potential claim on the freely usable currencies of IMF members. The IMF may allocate SDRs unconditionally to members (participants) who may use them to obtain freely usable currencies in order to meet a balance of payments need without undertaking economic policy measures or repayment obligations.

International Monetary Fund. Finance Dept.

Abstract

The Special Drawing Right (SDR) was created in 1969 as an international reserve asset to supplement other reserve assets whose growth was seen as inadequate to finance the expansion of international trade and finances under the Bretton Woods system in the postwar period and to support the Bretton Woods fixed exchange rate system. The creation of the SDR was intended to make the regulation of international liquidity subject, for the first time, to international consultation and decision. The SDR is not a currency, nor is it a claim on the IMF. Instead, it is a potential claim on the freely usable currencies of IMF members. The IMF may allocate SDRs unconditionally to members (participants) who may use them to obtain freely usable currencies in order to meet a balance of payments need without undertaking economic policy measures or repayment obligations.

International Monetary Fund. Finance Dept.

Abstract

This chapter explains the sources of income for the IMF. It elaborates on how the IMF has adapted its financial structure to finance its administrative expenditures. The IMF’s income is generated primarily through its lending and investing activities (Figure 5.1).

International Monetary Fund. Finance Dept.

Abstract

This chapter explains the sources of income for the IMF. It elaborates on how the IMF has adapted its financial structure to finance its administrative expenditures. The IMF’s income is generated primarily through its lending and investing activities (Figure 5.1).