MPPSC 2017 General Studies Solved Paper-1

(C) Any member country,whether developed,developing, or poor, can turn tothe International MonetaryFund (IMF) for financing if ithas a balance of paymentsneed—that is, if it cannot findsufficient financing onaffordable terms in the capitalmarkets to make itsinternational payments andmaintain a safe level ofreserves. IMF loans are meantto help member countriestackle the balance of paymentsproblems, stabilise theireconomies, and restoresustainable economic growth.This crisis resolution role is atthe core of IMF lending.