International Monetary Fund - IMF
The IMF is an international financial institution. Its headquarters is in Washington D.C. (USA). It was established to promote stability of international monetary and financial system through provision of loans and professional technical assistance. The IMF is an international organization of 189 member countries. Slovakia became its member in 1993.
Slovakia as the IMF member contributes to financing of the IMF´s operations through quota resources and bilateral loan agreement concluded with the IMF until 2024. Slovakia is subject to the IMF´s surveillance twice a year during the IMF missions of experts focused on assessment of the recent macroeconomic and fiscal development. The missions are organized by the Ministry of Finance in co-operation with the National Bank of Slovakia.
The Governor for Slovakia in the Board of Governors, the highest decision-making body, is the Governor of the National Bank of Slovakia. The State Secretary of the Ministry of Finance of the Slovak Republic, was appointed as Alternate Governor. Slovakia is represented by the Executive Director in the Executive Board of the IMF, the executive body, and belongs to the Central and Eastern European Constituency where Slovakia has its representative.
The goals of the IMF:
- provision of loans to ensure stability of macroeconomic situation in target countries
- assistance for economic and structural reforms
- analysis of global economy (e.g. regular publication of World Economic Outlook, Regional Economic Outlook, etc.)
One of the most important tasks of the IMF includes regular consultations about economic development in IMF member countries (so called „Article IV Consultations“). List of relevant conclusions from different Article IV Consultations is available at: www.imf.org/en/Countries/SVK