International Monetary Agreements Act

The Fund cooperates, as part of this agreement, with all general international organizations and with international public organizations that have specialized missions in related areas. Any provision for such cooperation, which would involve a modification of a provision of this agreement, can only be made after amending this agreement, in accordance with Article XXVIII. 2. (a) The Council monitors the management and adaptation of the international monetary system, including the continuation of the adjustment process and the evolution of global liquidity, and in this regard examines the evolution of real resource transfers to developing countries. c) The Fund, in agreement with members, can obtain further information. It serves as a centre for collecting and exchanging information on monetary and financial problems, facilitating the development of studies to help members develop policies to promote the Fund`s objectives. The statutes of the International Monetary Fund were adopted at the United Nations Financial and Monetary Conference (Bretton Woods, New Hampshire) on 22 July 1944. They were originally accepted by 29 countries and were signed and ratified by a total of 190 Member States. As the organization`s statutes, the articles define the Fund`s objectives, including the promotion of „international monetary cooperation by a permanent institution, which is the status of consultation and cooperation on international monetary issues.“ The articles also specify the mandate of the Organization and the rights and obligations of its members, the governance structure and functions of its bodies, as well as the establishment of various rules of activity, including those relating to the performance of its activities and operations relating to special drawing rights. The IMF`s main tasks are to monitor the international monetary system and monitor members` economic and financial policies, provide funds to Member States in need, and provide technical assistance and financial services. Since their adoption in 1944, the statutes have been amended seven times and the last amendment was adopted on 15 December 2010 (effective 26 January 2016).


Comments are closed.