International Monetary Fund

The international monetary fund is an international organization founded according to the Agreement accepted at the UN International Monetary and Financial Conference in July, 1944 in Breton-Woods (USA) and come into force in December, 1945. IMF unites 184 states.

Tasks of IMF activity are the following: deepening of the international monetary cooperation; strengthening of financial stability; strengthening of economic growth and high employment level; and also simplification of creation of multilateral system of payments

IMF main objectives:

• Assistance to the international monetary and financial cooperation;
• Simplification of expansion and uniform growth of international trade;
• Maintenance of the stable and ordered currency relations between member-states;
• Help in creation of multilateral system of calculations;
• Granting of credits for settlement of balances of payments to member-states;
• Elimination of infringements of balance of the international balances of payments.

IMF holds the review of national, regional and global economic development for maintenance of stability and prevention of crises in the international currency system. The IMF renders consulting assistance to its 184 member-states which promotes carrying out of the policy providing financial stability, reducing their vulnerability level before economic and financial crises, raising living standards population. Besides, the IMF represents itself as a platform for discussion by member-states of national, regional and global consequences of their policies. The IMF also gives time financing to member-states to updating of their balances of payments.

The IMF renders technical assistance and carries out training to assist to the states in increase of skill level of the serving institutes responsible for maintenance economic stability and growth.

Though IMF activity has macroeconomic character, and IBRD assists in realization of separate projects of development of national economies, their overall aim is maintenance of stability of the international financial system. IMF and WB consider counteraction to money-laundering and terrorism financing as a component of strategy of actions on achievement of the specified purpose. The IMF has noticed that money-laundering is connected with variety of macroeconomic consequences, including unpredictable changes of demand for money, risks for stability of financial institutions and financial systems, and also increase in scale of fluctuations of the international streams of the capital and exchange rates as a result of unforeseen cross-border transfers.

In the frameworks of its activity IMF pays considerable attention to issues of construction in member-states of systems of counteraction to washing up of criminal incomes and terrorism financing. Therefore the IMF organizes various kinds of study in member-states for employees of the state structures, authorized to carry out activity in the sphere of struggle against money-laundering, elaborates help materials, holds estimations of conformity of national systems of counteraction to legalization of criminal incomes and terrorism financing to corresponding international standards.

Detailed information you can find on the official site of the World Bank (www.worldbank.org)