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What if the IMF and what does it do?

Question by Sydney Mulunda On 25 March 2020, 21:26:28

Please write a genuine and meaningful answer to get a good ranking.

Answer by Sydney Mulunda On 25 March 2020, 21:42:27

The IMF is a fund fully known as The International Monetary Fund. This fund was established in 1944 at the United Nations Breton Woods conference in New Hampshire, US and has 186 member countries represented by 24 executive directors. Moreover, its 144 staff represent the different nationalisties therein. The main reason this fund was formed was to ensure the stability of the international monetary system which enabled coutries to transact with one another. The total amount that the IMF is able to lend to its member countries is 1 trillion dollars. As of March of 2019, it had 36 lending arrangements. Some other roles it does are: working with government to provide support in terms of spending, helping memmber countries to modernize their policies, facilitating the expansion of balanced international trade among other functions. 

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