what is the purpose of the international monetary fund
International Monetary Fund The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."[1] Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes,[5] it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. It now plays a central role in the management of balance of payments difficulties and international financial crises.[6] Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016[update], the fund had SDR477 billion (about $666 billion).[7]
Alonso Álvarez de Pineda
Finance Commission Major Recommendations of 14th Finance Commission headed by Prof. Y V Reddy
Import quota Quotas, like other trade restrictions, are typically used to benefit the producers of a good in that economy.