The Role of the IMF in Maintaining Economic Stability in the Countries of the World and Future Prospects in the Context of Current Global Changes

Abstract

This work outlines the role of the International Monetary Fund in maintaining global economic stability and promoting international monetary cooperation. In ac increasingly interdependent world, where economic fluctuations in regions can have profound repercussions on others, the IMF serves as a pillar of the global financial system. Through its key functions, such as monitoring economic policies, providing loans to countries in financial troubles, and providing techhnical assistance, the IMF helps prevent economic crises and acccelerate their recovery. One of it’s most significant contributions is its ability to act as a ’’liquidity provider’’ in times of crisis and this role is particularly important for emerging and developing economies, which are often more vulnerable to external shocks. Furthermore, through its structural adjustment programs and cooperation with national governments, the IMF encourages the implimentation of responsible fiscal policies, labour market reforms, and also improved economic governance. Although the IMF’s role is not without controversy, with criticism often leveled at the strict conditions attached to its loans and their impact on vulnerable populations, it plays a fundamental role in improving institutional frameworks and strengthening the confidence of international investors. CZU: 339.732.4:339.94; JEL: E42, F02, F33, G32