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The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.
On 9 March 2012 (the same day the Greek government asked the IMF for an Extended Fund Facility (EFF) agreement), [28] IMF managing director Christine Lagarde supported the agreement. [30] It was approved on 15 March, with an immediate disbursement of 1.4 billion SDR and an overall commitment of 23.7853 billion SDR (2.159 percent of the Greek ...
Nigeria joined the IMF on March 30, 1961. [1] Nigeria is Africa's most populous country, with 222.182 million citizens. [1] The nation's IMF quota stands at 2454.5 million (SDR) along with its special drawing rights amounting to 3702.34 million (SDR). [1] As of July 2023, Nigeria experienced a 3.2 GDP change. [2]
South Korea joined the IMF on August 13, 1955. [2] The relationship between the state and the institution has been steady for the most part. The country contributed $8.582 billion SDR (Special Drawing Rights) to the IMF quota, which comprises 1.81% of the IMF's funds. [3] South Korea has 87,292 votes in the IMF, which is 1.73% of the total. [3]
The IMF and World Bank meet each autumn in what is officially known as the Annual Meetings of the International Monetary Fund and the World Bank Group and each spring in the Spring Meetings of the International Monetary Fund and the World Bank Group. Names of the two groups are alternated each year so a different one has top billing.
Together, this IMF constituency has a total of 170,118 Special Drawing Rights (SDR's) votes and the percent total of the constituency fund amounts to 3.38%. [25] This constituency has been headed by Executive Director Louise Levonian from Canada, and Alternate Executive Director Anne Marie McKiernan from Ireland since mid-2018. [ 26 ]
This was lowered to 300% in May 2022, and eventually allowed to expire in May 2024. The IMF continues to commend the country's macroeconomic fundamentals, such as low inflation, low public debt, and tight monetary policies, in the face of numerous endogenous and exogeneous shocks like the Russian invasion of Ukraine. [10] [11]
Bosnia and Herzegovina declared independence from the state formerly known as Yugoslavia in 1992 and joined the International Monetary Fund (IMF) on December 14, 1992. [ 1 ] Bosnia and Herzegovina officially succeeded to the IMF membership of the former Yugoslavia on December 20, 1995, thereby giving the country access to the quota, as well as ...