What is the primary role of the International Monetary Fund (IMF)?

The primary role of the International Monetary Fund (IMF) is to ensure stability in member countries facing economic difficulties. This involves providing financial assistance and advising countries on economic policies to promote stability and growth. When a country is experiencing a balance of payments crisis, the IMF steps in to offer resources, often accompanied by economic reform programs to restore financial stability. The goal is to help countries recover and prevent potential spillover effects that could destabilize the global economy.

While some may associate the IMF with poverty reduction efforts or aspects of trade, its core mandate focuses on ensuring the financial and economic stability of its member nations. Tools like surveillance of economic policies, technical assistance, and financial support tailored to specific needs enable the IMF to fulfill its role effectively.