What is the role of the International Monetary Fund (IMF) in stabilizing global economies?

The International Monetary Fund (IMF) plays a crucial role in stabilizing global economies by providing financial assistance and policy advice to countries facing economic challenges. The IMF helps member countries facing balance of payments problems by offering loans, usually with conditions that encourage economic reforms to restore financial stability. It also monitors global economic trends and provides expert advice to help countries manage their economies more effectively. Through its surveillance activities, the IMF aims to prevent financial crises and promote international monetary cooperation, contributing to the stability of the global financial system.