The Fund was established to promote international cooperation on monetary problems through a permanent institution which provides the machinery for consultation and collaboration.
Its main purposes are: to facilitate as primary objectives of economic policy, the expansion and balanced growth of international trade, contributing thereby to the promotion and maintenance of high levels of employment and real income and to the development of productive resources of all members.
To promote exchange stability to maintain orderly exchange arrangements among members and to avoid competitive exchange depreciation and to give confidence to members by making the Fund’s resources available to them under adequate safeguards.
ADVERTISEMENTS:
The Fund works through a Board of Governors, a Board of Executive Directors, a Managing Director and a staff. All powers of the Fund are vested in the Board of Governors consisting of one Governor and one Alternate appointed by each member.
The voting power of the Governors is related to the size of the quota of the member-nations they represent. The Board of Executive Governors is responsible for the conduct of general operations of the Fund and exercises the powers delegated to it by the Board of Governors.
The Executive Directors appoint a Managing Director, who must not be a Governor or an Executive Director.
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