Question

International Monetary Fund (IMF)

(a) On whose idea the International Monetary Fund was initiated?

(b) When was it formally organised?

(c) What were the three main agendas of the IMF?

(d) State the main reason of its funding?

Answer 1

(a) Harry Dexter white and John Maynard Keynes ideas brought the emergence of IMF.

(b) It was formally organised in 1945 with 29 member countries (at present 189).

(c) 1. To promote International monetary cooperation. 

2. To expand International trade. 

3. To bring exchange stability.

(d) The IMF lends money from its resources to countries facing Balance of payment problems.