IMF

Definition

The International Monetary Fund (IMF) is an international organization that fosters global monetary cooperation. It provides financial assistance to member countries facing balance of payment difficulties while also offering policy advice and technical expertise.

Related terms

Balance of Payments: A record of all economic transactions between a country's residents and those of other nations over a given period. It includes trade in goods/services, capital flows (investments), remittances from abroad, etc.

Financial Assistance: Refers to loans or aid provided by organizations like the IMF during times of economic crisis or when countries face difficulties meeting their foreign debt obligations.

Policy Advice: Recommendations and guidance provided by experts or organizations to governments on various issues, including economic policies, fiscal management, exchange rates, etc.