Share this entry

Share this page

International Monetary Fund

Line breaks: Inter|nation¦al Mon¦et|ary Fund
(abbreviation: IMF)

Definition of International Monetary Fund in English:

Member countries contribute in gold and in their own currencies to provide a reserve on which they may draw to meet foreign obligations during periods of deficit in their international balance of payments. Payments are usually made on the basis of the country’s acceptance of stipulated measures for economic correction, which often entail cuts in public expenditure and an increased cost of living, and have frequently caused controversy. It is affiliated to the United Nations, with headquarters in Washington DC

Definition of International Monetary Fund in:

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove ads and access premium resources

Word of the day odium
Pronunciation: ˈōdēəm
noun
widespread hatred or disgust for someone…