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The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.
In 2019, when economic conditions worsened, they went to IMF for the twenty-second time for a loan of US$1 billion. [8] IMF gave loan based on conditions such as hike in energy tariffs, removal of energy subsidy, increase in taxation, privatization of public entities and fiscal policies to the budget. [7] On 30 June 2023, the IMF and Pakistan ...
While both the International Monetary Fund (IMF) and World Bank loan to depressed and developing countries, their loans are intended to address different problems. The IMF mainly lends to countries that have balance of payment problems (they cannot pay their international debts), while the World Bank offers loans to fund particular development ...
Flag of Argentina. Argentina joined the International Monetary Fund (IMF) on September 20, 1956 [1] and has since participated in 21 IMF Arrangements. [2] The first Stand-By Arrangement (SBA) began on December 2, 1958, and the most recent Stand-By Arrangement began on June 20, 2018, and expired on June 19, 2021. [3]
Greece has signed two loan agreements with the IMF: a Stand-By Arrangement from 2010 to 2012 and an agreement under the Extended Fund Facility from 2012 to 2016, borrowing a total of 27,766.3 million SDR. [4] Greece owes the IMF 6,735.64 million SDR, [4] and is the fund's third-largest borrower (after Argentina and Ukraine). [5]
The loan allocated $36 million to compensate for a drop in coffee prices and $48 million as stand-by credit. The stand-by credit was met with conditionality, including "liberalization of exchange rate and trade policies, the 'rationalization' of its interest and pricing policies, and the increase in credit for private industry."