3 Principal Functions of the IMF

The three principal functions of the IMF are – surveillance, financial and technical assistance – to endorse the steadiness of the global financial and monetary framework.

(a) Surveillance : The IMF intently screens every member nation's monetary and monetary turns of events and holds a strategy exchange with a member nation consistently (otherwise called Article IV Consultation), as a rule once every year, to survey its financial circumstances with the end goal of giving arrangement proposals. The IMF likewise surveys worldwide and local turns of events and standpoint in view of data from individual conferences. The IMF distributes such evaluation on the multilateral reconnaissance through the World Economic Outlook and the Global Financial Stability Report on a semi-yearly premise.

(b) Financial Assistance : The IMF loans to its part nations confronting equilibrium of installments issues to work with the change cycle and reestablish part nations' monetary development and steadiness through different advance instruments or "offices". An IMF credit is normally given under an "plan," requiring a getting country to embrace the particular strategies and measures to determine its equilibrium of installments issue as indicated in a "Letter of Intent." Most IMF advances are fundamentally supported by its part nations through installments of portions. Accordingly, the IMF's loaning limit not set in stone by the aggregate sum of quantities. By the by, if important, the IMF might get from some of its monetarily most grounded part nations through the NAB or, the New Arrangements to Borrow or, the GAB or the General Arrangements to Borrow to enhance the assets from its respective quotas.

(c) Technical Assistance: IMF offers technical assistance to its member countries to consolidate their aptitude to implement and efficacious policies within the following four paradigms namely,

1) Financial and monetary policies

2) Fiscal policies and management

3) Statistics

4) Financial and economic legislation

Apart from the technical assistance, seminars and training courses are also offered by the IMF at the IMF flagship institutes in Washington D.C., and the other regional training centres in the UAE, Tunisia, Singapore, India, China, Brazil and Austria.