Facts about International Monetary fund

International Monetary Fund (IMF) is referred to as the intergovernmental institution responsible for keeping an eye on the global financial system of different nations around the world by following policies of macroeconomic system of its member countries. The aim of the organization is to stabilize intercontinental currency rates and initiate development of financial mobility by strengthening economical policies. As a function, it works by providing financial loans to foreign countries to neutralize debts, relief ailing financial situation and improve aid especially to unstable and poor countries all around the world. In addition, IMF wants to improve the financial and economical situation of its IMF members around the world and shouldering cooperation to monetary stabilization, minimizing poverty incident rate, promoting employment rates, and increasing market trade locally and internationally.

IMF made significant impacts to each countries around the world for being generous enough to provide financial assistance to needy country. However, there are criteria that has been always implemented by the mentioned institution for the reason that they should prioritize countries that immediately needs financial assistance. This includes countries that are hit by a natural disaster that made significant destruction to a certain community's political, economic, and social image. The extent of loss made a massive misfortunes that emanated immediate need of support such as money, food, and shelter. This is to prevent more lives that are going to be creating another impact to the society. In this manner, IMF is also monitoring other countries who also needs financial support that falls the institution's criteria. 

As an opportunity, the mission of IMF is to make available financial assistance to all of its member countries experiencing severe serious financial as well as economic issues utilizing accessible funds. The Strauss-Khan scandal involving sexual harassment issues resulted into his sudden resignation as a managing director of IMF affected market trade and currency stability of its member nations worldwide. IMF is one of the financial institutions that controls and regulates fiscal movement and currency equities of its member countries which is why scandals and negative issues alters monetary's reputation on each of its member nations. The scandal produced negative market trading reaction in downward trend which is a short term effect because the member nations are concerned to the future of the institution of handling massive loans and regulating financial stability. Situations or events which are similar to the scandalous event made by the managing director lose the institutional credibility to give confidence to supporting developing countries to sustain their economical framework.