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-International Monetary Fund- Addressing Fundamental Economic Goals On an International Level The International Monetary Fund is an important function that makes world trade less strenuous. The International Monetary Fund, or IMF as it is called, provides support and supervision to nations in all stages of economic progress. International trade is a key element to enable nations, large and small, to strengthen their economic positions. Larger nations need the international market to export their goods and services, and smaller nations also need this world scale market to import products so they are able to produce more efficiently. In order to achieve these goals, one major component must be in place. The ability to value other nation's currency. Throughout the years, many different ways have been used to do this, mostly ending in failure. There is no perfect way to accurately measure the true value of another country's currency. The International Monetary Fund is an effort to see each country's economic position, offer suggestions, and provide the fundamental economic security that is essential to a thriving (world) economy. Many of the domestic economic goals are reiterated by the INF on an international leve

The Gold Standard served the world's economy very well until one unfortunate event happened. With all of those policies successfully in place, the exchange rates of the participating countries would then be fixed to gold, therefore to each other. This line of credit is only extended if the borrowing country provides the IMF with and abides by an economic policy that will in a specific time frame repair the country's current financial problem and repay the debt. Other personnel of the IMF include 24 Executive Directors, including a Managing Director on staff in Washington D. What to do now A new system of international currency exchange values was inevitable. They collect information concerning the particular nation's economic position. These executive directors make no policies, rather keep existing policies enforced. After The Depression international trading was crippled. There are other ways to define currency, the former methods are, by far, the most common. When times are really in dire straits for a nation the IMF gives the participating nation a sense of security. It provides a helping hand, financially, to nations that are experiencing economic trouble. The repayment of the loan varies in a case by case fashion, generally it is paid back within three (3) to five (5) years. Installments may be withdrawn as long as the Executive Board of the IMF is satisfied that the borrowing country is following the economic policy provided to receive the loan. If that amount is not sufficient to cover the debt, other options become available to the country.