India is one of the founder members of the International Monetary Fund. It signed the IMF Agreement, on December 27, 1945. India's subscription quota was the fifth largest until 1970. By virtue of it, this country had the power to appoint a permanent Executive Director on the Board of Executive Directors. After May 1970, as the subscription quotas of Japan, [...]
In this article we will discuss about the achievements and shortcomings of the IMF. The International Monetary Fund has played a very vital role in the stabilisation of exchange system, in facilitating international payment adjustments and in the promotion of steady expansion of international trade and productive capacities of the member countries. Achievements of the IMF: Some of the major [...]
In this article we will discuss about:- 1. Introduction to Special Drawing Rights 2. Uses of SDRs 3. Critical Appraisal. Introduction to Special Drawing Rights: The main problem which has confronted the international monetary system in the recent decades is to raise the supply of reserves. Although the IMF has been making a fruitful contribution in dealing with the problem [...]