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Functions of international monetary fund

Answer Text:
International Monetary Fund (I.M.F) and its functions:
This bank operates like the central bank of the central banks of the member countries.
-Provide financial support to the member country to alleviate poverty and boost their income.
-Relieving heavily indebted countries of debt repayment so that it can use that fund to raise the living standards of its people.
-Providing funds to the member countries to finance the deficits in their balance of payment.
-Provide forum through which the member country can consult and cooperate on matters
concerning trade among them
-Maintaining currency reserves of the different countries, enabling member countries to buy foreign exchange to be used to import goods and services.
-Ensuring that the member country maintains a stable foreign exchange rates for their currencies.