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IMF: Understanding The Stringent Framework And What Ghanaians Must Foresee In The Years Ahead

The International Monetary Fund [IMF] was established in 1944 in the aftermath of the Great Depression of the 1930s. 44 founding member countries sought to build a framework for international economic cooperation, its membership embraces 190 countries, with staff drawn from 150 nations.

The IMF is governed by and accountable to those 190 countries that make up its near-global membership.

The International Monetary Fund [IMF] works to achieve sustainable growth and prosperity for all of its 190 member countries. It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.

At the top of its organizational structure is the Board of Governors. The day-to-day work of the IMF is overseen by its 24-member Executive Board, which represents the entire membership and is supported by IMF staff. 

The Managing Director is the head of the IMF staff and Chair of the Executive Board. The head is widely assisted by four Deputy Managing Directors.

IMF funds come from two major sources: quotas and loans. Quotas, which are pooled funds of member nations, generate most IMF funds. The size of a member's quota depends on its economic and financial importance in the world. Nations with greater economic significance have larger quotas.

Out of a total of 196 countries, seven countries are not IMF members Cuba, East Timor, North Korea, Liechtenstein, Monaco, Taiwan, and Vatican City.

Ghana going to the International Monetary Fund [IMF] is not evil but a savior in disguise that comes with a competently streamlined stringent supervision and accurate monitoring whereas every economic-minded pedagogy is employed to settle mismanagement of funds and spending. 

Cutoffs and pragmatic issuance to money-related subjects will be thoroughly dissected before and after its implementation and undertakings. 

Content created and supplied by: BATACH (via Opera News )

Board of Governors Ghanaians Great Depression IMF International Monetary Fund

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