IMF is the acronym for the International Monetary Fund, which arose from a UN convention in 1944, in order to promote a sustainable economy and prevent its member countries from falling into a financial crisis. In the event that this happens, the IMF is able to provide immediate assistance to the affected country through its sustainable exchange policies that are internationally acceptable, all in order to reduce poverty, neglect and maintain international trade..
At the International Monetary Fund, standards and regulations have been created with the aim of controlling spending and investment in countries. They commit to the UN and the IMF to abide by these statutes, so that the support that may be offered to them in a given situation is not taken away. One of the most named is the Gold / Dollar standard which gave a certain value to the gold in dollars that remained fixed, this pattern was in force until 1973 when a world financial crisis forced countries to repeal it.
The members of the IMF are: The 187 members of the UN and Kosovo, North Korea, Andorra, Monaco, Liechtenstein, Nauru. China, Cuba and the Vatican City are not part of the organization.
Liberia, São Tomé and Príncipe, Angola, Burundi, Mozambique, Ethiopia, Eritrea, Somalia, Bosnia-Herzegovina, Albania, Syria, Iraq, Uzbekistan, Afghanistan, Bhutan, Burma, Laos and Vanuatu are countries that are part of the organization, but do not comply with the obligations of Article VIII, Sections 2, 3, and 4 of the IMF statute. Section 2 refers to avoiding restrictions on current payments, section 3 to Prevention of discriminatory monetary practices, and section 4 to Convertibility of balances in foreign hands.
The IMF promotes international monetary exchange, collaborates with the import and export of matter to the countries. It makes loans to countries that need it to invest in growth. It facilitates the payment installments between the loans that are made between countries, as well as the multilateral businesses are governed by statutes emanating from the IMF.
