IMF: transcript. The goals, objectives and role of the organization in the world

The IMF (decryption - the International Monetary Fund) was established in 1944, at a conference in Bretton Woods in the United States. Its objectives were initially declared as follows: promoting international financial cooperation, expanding and growing trade, ensuring the stability of currencies, assisting in settlements between member countries and providing them with funds to correct imbalances in balance of payments. However, in practice, the activity of the Fund is reduced to acquisitiveness for the minority (countries and transnational corporations), which, among other organizations, is controlled by the IMF. Did IMF loans, or the IMF (deciphering the International Monetary Fund) help needy states? How does the work of the Fund affect the world economy?

IMF: interpretation of concepts, functions and tasks

IMF stands for International Monetary Fund, IMF (deciphering the abbreviation) in the Russian version looks like this: International Monetary Fund. This intergovernmental organization is called upon to facilitate currency cooperation by consulting its members and providing them with loans.

The Fund's goal is to consolidate the hard currency parity. To this end, Member States established them in gold and US dollars, agreeing not to change them more than ten percent without the consent of the Fund and not deviate from this equilibrium in the performance of operations by more than one percent.

History of foundation and development of the Foundation

In 1944, at a conference in Bretton Woods in the United States, representatives of forty-four countries decided to create a unified economic cooperation base to avoid devaluation, the consequence of which was the Great Depression in the thirties, as well as to restore the financial system between states after the war. The following year, based on the results of the conference, the IMF was established.

The USSR also took an active part in the conference and signed the Act on the Establishment of the Organization, but subsequently did not ratify it and did not participate in the activities. But in the nineties, after the collapse of the Soviet Union, Russia and other countries - former union republics joined the IMF.

In 1999, the IMF included 182 countries.

Management bodies, structure and participating countries

The headquarters of the UN-IMF specialized organization is in Washington. The governing body of the International Monetary Fund is the Governing Council. It includes the manager himself and the deputy from each member country of the Fund.

The Executive Board consists of 24 directors representing groups of countries or individual participating countries. At the same time, the European director is always the managing director, and the American is his first deputy.

The authorized capital is formed at the expense of state contributions. Currently, the IMF includes 188 countries. Based on the size of the paid quotas, their votes are distributed among the countries.

IMF data show that the largest number of votes belongs to the United States (17.8%), Japan (6.13%), Germany (5.99%), Great Britain and France (4.95%), Saudi Arabia (3 , 22%), Italy (4.18%) and Russia (2.74%). Thus, the United States, as having the largest number of votes, is the only country that has the right to veto the most important issues discussed in the IMF. And many European countries (and not only them) simply vote the same way as the United States of America.

The role of the Fund in the global economy

The IMF constantly monitors the financial and monetary policies of member countries and the state of the economy around the world. To this end, consultations are held every year with government organizations regarding exchange rates. On the other hand, Member States should consult the Macroeconomic Fund.

For countries in need, the IMF issues loans, offering countries borrowed funds that they can use for a variety of purposes.

In the first twenty years of its existence, the Fund gave loans mainly to developed countries, but then this activity was reoriented to developing countries. It is interesting that from about the same time the neocolonial system in the world began its formation.

Conditions for countries to receive a loan from the IMF

In order for the member states of the organization to obtain a loan from the IMF, they must fulfill a number of political and economic conditions.

This trend was formed in the eighties of the twentieth century, and with time only continues to get tougher.

The IMF-Bank requires implementing programs that, in fact, do not lead to a country's exit from the crisis, but to curtail investment, stop economic growth and worsen the social status of citizens in general.

It is noteworthy that in 2007 there was a strong crisis in the organization of the IMF. Deciphering the global recession of the economy-2008, as financial analysts say , may have been his consequence. Nobody wanted to borrow from the organization, and those countries that received them earlier, tried to repay the debt ahead of schedule.

But there was a global crisis, everything fell into place, and even more. The IMF as a result increased its resources threefold and affects the world economy even more.