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THE FMI
Diego Alejandro Bustos Castro
23/04/2021
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The history of FMI
The FMI or IMF was born out of the Great Depression and World War II as promoter of monetary cooperation, financial stability and
economic growth of all countries.
As the Second World War ends, the job of rebuilding national economies begins. The IMF is charged with overseeing the international monetary system to ensure exchange rate stability and encouraging members to eliminate exchange restrictions that hinder trade.
The history
Who make it up
The five largest shareholders members of the IMF United States, Japan, Germany, France and the United Kingdom plus China, Russia and Saudi Arabia have their own seat on the Board.
Their purposes
The International Monetary Fund (IMF) promotes financial stability and international monetary cooperation. It also facilitates international trade, promotes employment and sustainable economic growth, and contributes to reducing poverty worldwide.
Their purposes
Mision
The idea of creating the IMF was raised in July 1944 at a United Nations conference held in Bretton Woods, New Hampshire (United States), when the representatives of 44 countries agreed to establish a framework for international economic cooperation aimed at preventing repeat the competitive currency devaluations that contributed to the Great Depression of the 1930s.
Mision
Functions
The International Monetary Fund is in charge of stabilizing the international monetary system and acts as the supervisory authority of said system, monitoring the world economy and especially its 189 member countries, this being its main function.
Functions
Requirements
To determine your eligibility, the IMF assesses whether the country in question meets the following requirements: sustainable external position, capital account predominantly private, good flows history of access to international capital markets under normal conditions, adequate level of reserves, public finances under control, low and stable inflation.