1、International Monetary Fund(IMF)环小丽环小丽 2011312866 Introduction Reinforcing international cooperation Ensuring sufficient resources The history of international monetary fund The activities of-The aims An adaption The tools How to be one member of IMFIntroduction A latest news：world leaders launch ac
2、tion plan to combat financial crisis on November 15,2008 The aims is at resolving the global financial crisis and supporting the IMFs capacity to contribute to these efforts Managing Director Strauss-Kahn said:1)The emphasis on fiscal stimulus is essential to restore global growth2)The declaration r
3、ecognizes that some countries have more room for maneuver than others3)The global stimulus needs to be large,in the order of 2 percent of world GDP,to make a sizeable difference to global growth prospectsReinforcing international cooperation Strauss-Kahn noted G-20s endorsement of strengthening the
4、IMFs mandate in the areas of macroeconomic surveillance，lending to member countries in need，and providing assistance to build up capacity in emerging market and developing countries Its role in reform of financial markets is based on its responsibility for surveillance of the global financial system
5、Ensuring sufficient resourcesThe sufficient resources can help to overcome crisis.It has acted to help emerging markets caught up in the crisis-loans for Hungary and Ukraine-agreement in principle with Pakistan-a loan for IcelandThe history(5 period)1)Cooperation and reconstruction(1994-1917)2)The e
6、nd of the Bretton Woods System(1972-1981)3)Debt and painful reforms(1982-1989)4)The end of communism(1989-2004)5)Continued glolalization(2005-present)1)Cooperation and reconstruction(1994-1917)-found reason:breakdown in international monetary cooperation-it was conceived in July 1944-it came into fo
7、rmal existence in December 1945-its membership began to expand in the late 1950s and during the 1960s2)The end of the Bretton Woods System(1972-1981)-by early 1960s,dollars fixed value,under the Bretton Woods system of fixed exchange rates-the system collapse,the members have been free to choose any
8、 form of exchange arrangement 3)Debt and painful reforms(1982-1989)-the oil shocks of the 1970s-during 1970s,expansionary fiscal policies and overvalued exchange rates-crisis broke out in Mexico in 19824)The end of communism(1989-2004)-the fall of Berlin wall in 1989 and the dissolution of the Sovie
9、t Union in1991 enabled it to be a universal institution-its staff expanded by near 30 percent5)Continued glolalization(2005-present)-the sharp rise in private international capital flows-globalization affects countries labor,trade,and tax policies The 5 activities Policy advice to governments and ce
10、ntral banks based on analysis of economic trends and cross-country experience Research,statistics,forecasts,and analysis based on tracking of global，regional，and individual economies and markets Loans to help countries overcome economic difficulties Confessional loan to fight poverty in developing c
11、ountries Technical assistance and training to help countries improve the management of their economiesThe aims The major discipline is the requirement that exchange rates be fixed to the dollar The IMFs main goal is to ensure the stability of the international monetary and financial system The found
12、ers aimed to build a framework for economic cooperation that would avoid a repetition of the disastrous economic policiesWhat are Fund that continue to do？Provide a forum for cooperation on international monetary problems Facilitate the growth of international trade，thus promoting job creation，econo
13、mic growth and poverty reduction Promote exchange rate stability and an open system of international payment Lend countries foreign exchange when needed，on temporary basis and under adequate safeguards，to help them address balance of payment problemsSeveral ways of an adapting Enhancing Internationa
14、l Monetary Fund lending facilities Strengthening the monitoring of global，regional，and country economies Helping resolve global economic imbalance Analyzing capital market development:Assessing financial sector vulnerabilities Working to cut poverty Improving IMF governance Greater accountability an
15、d transparencyThe tools Three main tools:1)economic surveillance-monitor global,regional,and national economic development;seek to assess the impact of the economic policies of individual countries on other economies 2)technical assistance and training-aim to help member countries strengthen their c
16、apacity to design and implement effective policies-four areas:a.monetary and financial policies b.fiscal policy and management c.statistics d.ask for technical assistance in work section 3)lending-it can be tapped to facilitate recovery-continued financial support-the members can borrow gold and for
17、eign currencies from Fund-it provide low-income counties with loans at a confessional rateHow to be a member?To become a member,a country must apply and then be accepted by a majority of the existing members;upon joining,they are assigned a quota which delineates several basic aspects Collaborating
18、with others Cooperating with other international organizationsBasic aspects Subscriptions:it determines the maximum amount of financial resources the member is obliged to provide to the International Monetary Fund.Voting power:Each member has 250 basic vote plus one additional vote for each SDR(Spec
19、ial Drawing Rights特别提款权)100,000 of quota.Access to financing（融资渠道）SDR allocations（特别提款权配额）:it used as an international reserve asset.Collaborating with others Collaboration with the World Bank Relation:-Differ from each,but complement each others work-IMF focus on macroeconomic and financial sector
20、issues,the World Bank focus on long-term development and poverty reduction.-Countries must join International Monetary first then them are eligible for World Bank membership.Collaboration sector:-poverty reduction and helping countries draw up poverty reduction strategies-assessments of member count
21、ries financial sector-development of standards and codes-improvement of the quality,availability,and coverage of data on eternal debtCooperating with other International Organizations It is a member of the Switzerland-based Financial Stability Forum It work with standards-setting bodies It collaborates with World Trade Organization:-it has observer status -its staff work for the WTO(trade,debt,finance)
