International Monetary Fund

The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It also offers financial and technical assistance to its members, making it an international lender of last resort. Its headquarters are located in Washington, D.C., USA.

The IMF was established in December 1945 following ratification of the Articles of Agreement of the Fund, formulated at the United Nations Monetary and Financial Conference held at Bretton Woods, New Hampshire 1944. The first 29 countries signed its Articles of Agreement. The Fund became a specialized agency of the UN in 1947.

The purposes of the fund are to encourage international monetary cooperation, facilitate the expansion and balanced growth of international trade, assist member countries in correcting balance of payment deficits and promote foreign exchange stability.

The 'Bretton Wood System', or international monetary system established by the Fund, was based upon a policy of fixed exchange rates, the elimination of exchange restrictions, currency convertibility and the development of a multilateral system of international payments. Exchange rates were based upon a par value system which required member countries to constrain fluctuations in their exchange rates within a margin of plus or minus one percent round a par value expressed in terms of US dollars, which in turn were convertible into gold at a fixed rate.

 Today the IMF describes itself as "an organization of 185 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty".

When and where was this organization started?

What is the mission of the Fund?

What do you know about modern activities of IMF?

Список литературы:

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2. Маньковская З.В. Деловой английский язык ускоренный курс. М.:ИНФРА-М,2014. – 160с.

3. Миловидов В.А. Английский для делового общения. – М.:АЙРИС-пресс,2015. – 160с.

4. Миловидов В.А. Великобритания: история ,география и традиции. – М.:АЙРИС-пресс,2015. – 184с.

5. Радовель В.А. Английский язык в сфере информационных технологий. – М.:КНОРУС,2013. –232с.

Электронные источники:

Википедия. URL:http://en.wikipedia.org