International Monetary Fund (IMF)

Definition

The International Monetary Fund is a global organization aimed at fostering monetary cooperation and financial stability, and providing countries with the resources to manage balance of payments problems. It plays a crucial role in supporting economic stability by offering policy advice, financial assistance, and technical expertise to its member countries.

Related terms

Balance of Payments:

A record of all transactions made between entities in one country and the rest of the world over a defined period of time, including imports, exports, foreign investments, and loans.

Financial Stability: The condition where the financial system - including institutions, markets, and infrastructure - operates smoothly without crises, enabling efficient allocation of resources and risk management.

Technical Assistance: Services provided by organizations like the IMF to member countries in order to help them build or strengthen their institutional capacity and implement effective policies