Membership of the Fund:
The IMF started functioning with an initial number of 44 members i.e., all the 44 members of the U.N.O. present at the Bretton Woods conference. The IMF has 151 members. New members may be admitted to the Fund at any time at the discretion of the Fund.
Organisation and Management of the Fund:
The fund is an autonomous organisation. It is affiliated to the U.N.O. Its headquarters are, at present, located at Washington in the U.S.A.
The management of the fund is entrusted to a board of Governors, a Board of Executive directors, a managing Directors, a Managing Director and other staff.
Resources of the Fund:
The contribution of each member country is payable partly in gold or U.S. dollars and partly in its own national currency. The gold part of each member’s contribution is 25% of its quota or 10% of its total gold holdings, which ever is less.
The initial capital of the Fund as per the quotas fixed for the original members was 8,800 million U.S. dollars. The quarters of member countries had been increased from time in order to enable the Fund to increase its resources.
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