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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.
One benefit of IMF membership is countries are entitled to technical assistance in banking, fiscal affairs and exchange matters, and one way they help is through country surveillance and Article IV consultations. During these consultations a team of IMF economics visit countries with IMF membership and assess economic and financial developments ...
The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for crisis-wracked developing countries by the Washington, D.C.-based institutions the International Monetary Fund (IMF), World Bank and United States Department of the Treasury. [1]
In 2022, the International Monetary Fund registered that 45 economies used inflation targeting as their monetary policy framework. [20] In addition, the Federal Reserve and the European Central Bank are generally considered to follow a strategy very close to inflation targeting, even though they do not officially label themselves as inflation ...
So in effect this was a gold – dollar exchange standard. There were a number of improvements on the old gold standard. Two international institutions, the International Monetary Fund (IMF) and the World Bank were created. A key part of their function was to replace private finance as a more reliable source of lending for investment projects ...
Under the IMF's Framework Administered Account for Selected Fund Activities published in 2010, [9] Japan created the Japan Sub-account (JSA) to finance technical assistance programs. Technical assistance programs are used to train IMF member countries in formulating, implementing, and maintaining an effective economic policy. [10]
South Korea and the International Monetary Fund (IMF) partner together to assist the country in managing its financial system. South Korea's economy is considered fundamentally sound because of the balance of their banking sector and their aim toward a zero structural balance without compromising their ability to sustain debt. [ 1 ]
Poverty Reduction Strategy Papers (PRSPs) are documents required by the International Monetary Fund (IMF) and World Bank before a country can be considered for debt relief within the Heavily Indebted Poor Countries (HIPC) initiative. [1] [2] PRSPs are also required before low-income countries can receive aid from most major donors and lenders. [2]