IMF- International Monetary and Financial committee

Introduction

Although, capitalism has only been around for approximately 100 geezerhood as an idea, its times around the globe has been relatively successful. However, the propagation has had its failures. For instance, the gold standard as a monetary dust for world trade had its weaknesses. The gold standard first began to hold up problems during World War I (1914-1919) when countries tried to expand the capital supply without the additional gold that they would need. When the IMF was established in 1944 by a United Nations conference held at Bretton Woods, New Hampshire, the assort Powers of World War II also established a U.S. dollar-based international monetary system. Under the agreement of Bretton Woods, the IMF and the World beach began to monitor the economics of world market.

History and Purpose of the IMF

The IMF was conceived for economic cooperation intentional to avoid a repetition of the disastrous economic policies that had contributed to the capital Depression of the 1930s.



Article I of the Articles of Agreement states that the purposes of the IMF are as follows: the IMF is trusty for promoting international monetary cooperation; facilitating the expansion and balanced fruit of international trade; promoting exchange stability; assisting in the presidential term of a multilateral system of payments; and making its resources available (under sufficient safeguards) to members experiencing balance of payments difficulties. More generally, and in accordance with its other purposes, the IMF is responsible for ensuring the stability of the international financial system.

The Organizational Structure of the IMF: the placard of Governors, International Monetary and Financial committee, Executive Board and the Managing Director.

The pilfer link of the chain of command is the Board of Governors, which is composed of ministers of pay or heads of central banks (or other officials of comparable rank) from each of...

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