International Monetary Fund on cryptocurrency

Abstract

IMF or the International Monetary Fund is a 190-country strong organization that works towards global monetary issues. It helps international trade, promote sustainable economic growth, and secures financial stability’. It maintains the exchange rates and payments system that enable citizens and countries to transact with one another. Its three main purposes are as follows": Surveillance: It refers to IMF’s monitoring of policies and financial developments within the member countries and across the globe. It provides advice to countries on how to design policies. Financial assistance: It provides loans to member countries that experience a balance of payment (BOP) problem in international trade. The main source of financing for IMF is quotas paid by the member countries, multilateral, and bilateral borrowing. The lending by IMF provides a buffer to countrimgto implement adjustment policies in a smooth and planned manner. The IMF members can access fund’s resourcepon non-concessional terms and in the General Resources Account. Several other programs include Poverty Reduction and Growth Trust (support for low-income countries), Stand-by Agreements (short term or potential BOP problems of emerging and advanced market economies), Standby Credit Facility (short term or potential BOP problems of low-income countries)" etc. As of now, it has a $1 trillion unt available for lending and 34 lending arrangements. Capacity development: IMF helps member countries to build good economigestitutions and provides assistance and training for the same. Some examples include designing policies for taxation and administration, monetary policies, exchange rate governance, financial system monitoring, etc.