What is the purpose of the International Monetary Fund (IMF)?

The purpose of the International Monetary Fund (IMF) is to promote global financial stability and economic growth by providing financial assistance, policy advice, and technical support to member countries. The IMF helps countries facing balance of payments problems by providing loans with conditions aimed at stabilizing their economies. It also conducts economic surveillance, monitors global economic trends, and offers policy recommendations. The IMF’s role in the global economy is crucial, as it helps stabilize economies during crises, promotes sustainable growth, and encourages international cooperation in managing global financial systems.