The International Monetary Fund

Vincenzo D’Apice and Giovanni Ferri
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Vincenzo D’Apice: Italian Banking Association

Chapter 5 in Financial Instability, 2010, pp 34-35 from Palgrave Macmillan

Abstract: Abstract Worldwide, the International Monetary Fund (IMF) plays a role that is somehow similar to the role played by central banks at the national level. According to the Bretton Woods agreements signed in 1944, which set the rules for commercial and financial relations among the main industrialized countries, the IMF was established one year later — initially with 25 member countries, now with 185 members — with the following main objectives: a) facilitate international monetary cooperation and avoid imbalances in international trade; b) help the countries with difficulties in the balance of payments (BOP), by way of granting them assistance funds; c) support the order in international payments by favouring the stability of exchange rates.

Keywords: Exchange Rate; Central Bank; International Monetary Fund; Fixed Exchange Rate; Asian Crisis (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-29711-1_6

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DOI: 10.1057/9780230297111_6

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