International Monetary Fund ( IMF )

Paper Summary:

Overview of the IMF. How it is organized and how it works. Its purpose as the central institution of the international monetary system. Its economic aims. Its monitoring of world financial issues. Its structure and chain of command. IMF functions. Effectiveness of the IMF; handling of financial crisis; Economic bailouts.

From the Paper:

"The International Monetary Fund

Membership
Created on December 27, 1945, when 29 countries signed its Articles of Agreement at a conference held at Bretton Woods, New Hampshire, the International Monetary Fund (IMF) commenced financial operations on March 1, 1947. Currently, there are 183 nation-states that are members of IMF. Unlike the United Nations (UN), where each member nation has an equal vote, voting power at the IMF and its sister organization, the World Bank, is determined by the level of a nation s financial contribution (World Bank/IMF Fact , 2001). Over time, sovereign nations not initially involved in the formation of IMF have sought and secured membership, resulting in the present force of 183 members."

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