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The IMF at Face Value

  • Imad A. MoosaEmail author
  • Nisreen Moosa
Chapter

Abstract

The International Monetary Fund (IMF), also known as the Fund, was established in July 1944 as a product of the Bretton Woods conference, with the objective of formulating and implementing monetary arrangements pertaining to exchange rates and international payment mechanisms. In 2012, however, the Fund’s mandate was upgraded to give it more responsibilities encompassing issues that pertain to international macroeconomic and financial stability. Thus, in a way the IMF has turned itself into many things, including a financial and macroeconomic advisor, a trade promoter and a development agency, functions that are invariably performed by other international organisations. The IMF portrays itself in a way that is not accepted universally.

Keywords

Surveillance Financial assistance Capacity development Special Drawing Rights International monetary system Bretton Woods system Exchange rate arrangements 

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.School of EconomicsRMIT School of EconomicsMelbourneAustralia
  2. 2.University of South AustraliaAdelaideAustralia

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