2.  ‘The IMF works to foster global growth and economic
stability. It provides policy advice and financing to
members in economic difficulties and also works with
developing nations to help them achieve macroeconomic
stability and reduce poverty.’

3. History
 Created on July 22, 1944.
 Came into existence on December 27, 1945 when 29
countries signed the Articles of Agreement.
 The IMF's stated goal was to stabilize exchange rates
and assist the reconstruction of the world’s
international payment system post World War II.
 In 1947, France became the first country to borrow
from the IMF

4. More history…
 As of January 2012, the largest borrowers from the fund in
order are Greece, Portugal, Ireland, Romania and
Ukraine.
 John Maynard Keynes imagined that the IMF would be a
cooperative fund upon which member states could draw to
maintain economic activity and employment through
periodic crises.
 American delegate Harry Dexter White foresaw an IMF
that functioned more like a bank, making sure that
borrowing states could repay their debts on time.

5. Member states
 Started with 29 countries.
 Now has 188 members, including 187 members from
the UN and the Republic of Kosovo.
 Cuba left in 1964. Czechoslovakia was expelled in
1954 for "failing to provide required data" and was
readmitted in 1990.

6. Recent Activity
 IMF Executive Board Completes First and Second
Reviews Under Extended Fund Facility Arrangement
for Greece and Approves €3.24 Billion
Disbursement. January 16, 2013
 http://www.imf.org/external/np/sec/pr/2013/pr1313
.htm

7.  The IMF’s Executive Board has approved the renewal
of Mexico’s Flexible Credit Line (FCL) for $73
billion. In its latest assessment of the Mexican
economy, the IMF said growth has remained
resilient, noting the country’s strong fundamentals
and sound policy frameworks and management.
December 11, 2012
 http://www.imf.org/external/pubs/ft/survey/so/201
2/car121112a.htm

8. IMF and the UK
 http://www.telegraph.co.uk/finance/financialcrisis/9
824337/George-Osborne-rejects-IMF-call-for-Plan-
B.html
 This is a great article released on the 24th January 2013
all about the IMF wanting to change the strategy of
George Osbourne and David Cameron concerning the
UK economic performance. Worth a read,