About IMF

International Monetary Fund

The IMF is an international organization of 186 member countries, established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries under adequate safeguards to help ease balance of payments adjustment.

On joining the IMF, each member contributes a certain sum of money called "quota subscription". Quotas are reviewed at least every five years. The 1998 quota review led to a 45 percent increase in IMF quotas. The review concluded in January 2003 resulted in no change in quotas. Initial ad hoc quota increases in 2006 as the first step in a two-year program of reforms raised quotas by another 1.8 percent. Total quotas are SDR 217.4 billion (about $346 billion as of end-October 2009).

The governing bodies are: the Board of Governors, the International Monetary and Financial Committee, and the Executive Board.

The Managing Director of the IMF is Mr. Dominique Strauss-Kahn.

The Director of the European Department is Mr. Marek Belka, who coordinates the Regional Office for Romania and Bulgaria, as well as the Headquarters' teams for the two countries.

Since the IMF was established in December 1945, its purposes have remained unchanged but its operations -- which involve surveillance, financial assistance, and technical assistance -- have evolved to meet the needs of a changing world economy.

To find out more, consult the IMF headquarters site (http://www.imf.org/).