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When did India become a member of the IMF?
When did India become a member of the IMF?
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India officially joined International Monetary fund (IMF) as an original member on 27th December 1945. Our country accepted the obligation of the Article VIII Article VIII of the International monetary on current account convertibility on August 20, 1994.
International Monetary Fund is basically an international organization which is headquartered in Washington, DC. It’s an organization which includes 189 countries which are working together for enhancing the global monetary cooperation, secure financial stability, and facilitate international trade and hike up employment, sustainable growth and reduces economic depression in the whole world.
The international monetary fund plays a vital role in managing a balance of payment difficulties and international financial crises.