International Monetary Fund: Elements, Reforms & Issues

The International Monetary Fund (IMF), conceived at the Bretton Woods conference in July 1944, is the multilateral organisation focused on the international monetary system. Created in 1946 with 46 members, it has grown to include 188 countries. The IMF has six purposes that are outlined in Article I of the IMF Articles of Agreement: promoting international monetary co-operation; expanding the balanced growth of international trade; facilitating exchange rate stability; eliminating restrictions on the international flow of capital; ensuring confidence by making the general resources of the Fund temporarily available to members; and adjusting balance-of-payments imbalances in an orderly manner. This book evaluates the purpose, membership, financing, and focus of the IMF’s activities and addresses key issues, both legislative and oversight-related; as well as reforms and economic condition in Egypt since the 2011 revolution.