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Username: LuckyWoman Rating:  Asked to: Talitha Taslim Date Created: 18 Nov 2015 |
| Category | 28 |
| Tag | Financial |
| Question | How a country can join the IMF? |
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Hello LuckyWoman, Countries must apply to be a part of the IMF, although any country can apply. Over time, the stipulations of being a member have changed, with membership requirements being more relaxed when the Fund was in its early stages. Countries are required to make membership payments, or quotas, which are assigned to individual countries based on their economic size and stipulate how much they contribute. These quotas are larger for more powerful economies, and they form a pool from which countries in need can take loans. Member countries are also required to adhere to the Code of Conduct, and stricter regulations may be imposed on those countries who apply in hopes of financial aid. Members not only have access to the broad range of services provided by the IMF, but also to the economic records of other member countries. |
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