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DOI: 10.15862/19ECOR422 (https://doi.org/10.15862/19ECOR422)

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Samusevich V.E. The impact of the development of the world monetary fund on international financial and economic relations. Russian journal of resources, conservation and recycling. 2022; 9(4). Available at: https://resources.today/PDF/19ECOR422.pdf (in Russian). DOI: 10.15862/19ECOR422

The impact of the development of the world monetary fund on international financial and economic relations

Samusevich Vladimir Evgenievich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: vladimirsamusevich06@gmail.com

Academic adviser: Akhmetov Minnegaley Gizyatovich
Financial University under the Government of the Russian Federation, Moscow, Russia
Military Training Center named after Professor, Major General S.M. Ermakova
E-mail: mgahmetov@fa.ru

Abstract. This article raises the issue of the development of the world currency market, as well as its influence on the development of international economic relations. For a deeper understanding of this problem, the author first of all considers the concept of a monetary and financial organization, the direction of its activities and lists the leading international monetary and stock organizations, namely: the IMF, WTO, World Bank. Further, the author proceeds to a more detailed consideration of these currency and stock organizations: their functions, goals and objectives are analyzed, the structure of organizations is indicated, and historical information is given. The author also draws attention to the fact that there are special currency and stock organizations whose activities are aimed at regulating the debts of foreign borrowers (for example, the London and Paris Club of creditor banks). The author comes to the conclusion that it is thanks to the functioning of currency and stock organizations that the regulation of credit activities, trade relations between countries, their debts and financial flows between them is carried out. The author then proceeds to consider the International Monetary Fund. The article provides the history of the emergence of this organization, the share of the authorized capital. In addition, the author examines the current structure of the IMF, its functions. Particular attention is paid to the role of the IMF in currency regulation. Within the framework of this aspect, the concept of SDR (special drawing rights), its course and purpose is revealed. The role of the IMF in providing short-term and medium-term loans in case of a deficit in the state’s balance of payments is considered in more detail. Such aspects as the reserve share and its size, credit shares and its framework, stand-by stand-by loans are analyzed. In the final part, the author summarizes the importance of the world currency market in the global economy and international relations.

Keywords: currency regulation; monetary and financial organization; monetary and stock organization; World Bank; WTO; IMF; international relations; world economy; world currency market; SDR

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