The International Monetary Fund

  • Vincenzo D’Apice
  • Giovanni Ferri
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


Worldwide, the International Monetary Fund (IMF) plays a role that is somehow similar to the role played by central banks at the national level. According to the Bretton Woods agreements signed in 1944, which set the rules for commercial and financial relations among the main industrialized countries, the IMF was established one year later — initially with 25 member countries, now with 185 members — with the following main objectives: a) facilitate international monetary cooperation and avoid imbalances in international trade; b) help the countries with difficulties in the balance of payments (BOP), by way of granting them assistance funds; c) support the order in international payments by favouring the stability of exchange rates.


Exchange Rate Central Bank International Monetary Fund Fixed Exchange Rate Asian Crisis 
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Copyright information

© Vincenzo D’Apice and Giovanni Ferri 2010

Authors and Affiliations

  • Vincenzo D’Apice
    • 1
  • Giovanni Ferri
    • 2
  1. 1.Italian Banking AssociationItaly
  2. 2.University of BariItaly

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