The Full Form of IMF
IMF Full Form – The Full Form of IMF in banking terms is the International Monetary Fund, which was established in 1945 and is headquartered at Washington D.C., USA. IMF is an international organization that is dependent on the World Bank for the attainment of several resources and has membership with 189 countries. IMF functions in order to achieve its set goals and objectives of reducing poverty all around the world, by providing secure financial stability, facilitating international trade and monetary cooperation, promoting high employment and sustainable economic growth. The IMF plays a major role in management during times of financial crises, as several countries provide funds to a well-organized pool from which deprived countries facing financial instability can borrow money.
The IMF has constantly been working in compliance with the policy of improving the economic status of its member countries, by gathering statistics and analyzing the situation if they meet international standards. The IMF provides loans to countries in need based on the collateral which they provide and also recommends the governments to implement policies in order to fix macroeconomic imbalances.
All the member countries of the IMF enjoy the benefits of gaining information about the economic policies of each other and find technical assistance in exchange matters, banking, and fiscal affairs. The IMF focuses on embedded liberalism by balancing international capitalism, maximizing economic sovereignty, and human welfare. The IMF also supports women’s empowerment and their rights in countries that lack women’s rights, even the chairwoman and Managing director of IMF is a woman.
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