TeachMeFinance.com - explain International Monetary Fund (IMF)
International Monetary Fund (IMF) -- an international organization with 146 members, including the United States. The main functions of the International Monetary Fund are to lend member nations funds to finance solutions to temporary balance of payments problems, to facilitate the expansion and balanced growth of international trade, and to provide international monetary cooperation among nations. The IMF also creates additional reserves for member nations called special drawing rights. Member nations must subscribe to a Fund quota, making payments mainly in their own currency. The IMF grew out of the Bretton Woods Conference of 1944.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.