INTERNATIONAL MONETARY FUND (IMF)

CURRENT CONTEXT : Former RBI Governor Urjit Patel appointed Executive Director at IMF (2025–2028), representing India, Bangladesh, Sri Lanka, and Bhutan.

ABOUT IMF

• Established: 1944, Bretton Woods Conference
• Members: 191 (latest – Liechtenstein, 2024)
• Headquarters: Washington, D.C.
• Objective:
  • Promote monetary cooperation
  • Ensure financial stability
  • Facilitate global trade
  • Promote growth & reduce poverty

STRUCTURE

• Board of Governors: Highest decision-making body, meets annually
• IMFC (International Monetary and Financial Committee): Advisory body (24 members)
• Executive Board: Daily operations, works with Managing Director