Alþjóðagjaldeyrissjóðinn

Alþjóðagjaldeyrissjóðurinn, commonly known in English as the International Monetary Fund (IMF), is an international organization of 190 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It was established in 1945 at the Bretton Woods Conference.

The IMF's primary mandate is to ensure the stability of the international monetary system, which is the system of exchange rates and international payments that enables countries to transact with each other. This system underpins economic activity and sustainable growth. The IMF monitors the economic and financial policies of its member countries, highlighting risks to stability and recommending policy adjustments. It also provides financial assistance to member countries experiencing balance of payments problems.

In addition to its surveillance and lending functions, the IMF provides technical assistance and training to help countries build stronger economies. This assistance covers areas such as fiscal policy, monetary policy, financial sector supervision, and statistical capacity building. The organization's work is funded by quota subscriptions from member countries. The amount of a country's quota reflects its relative position in the world economy.