What is the function of the International Monetary Fund in global economics? 🔊
The International Monetary Fund (IMF) functions to promote global economic stability and growth by providing financial assistance and support to member countries. It offers loans, policy advice, and technical assistance, particularly to nations facing balance of payments crises. The IMF also conducts economic surveillance and provides recommendations to help countries implement sound economic policies. By fostering international cooperation and financial discipline, the IMF plays a crucial role in maintaining stability in the global economy, contributing to sustainable development and resilience against economic shocks.
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