SUNSHINE GROUP

INTERNATIONAL MONETARY FUND

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April 2012

SUNSHINE GROUP MEMBERS

1 2 3 2 4 5 6 4 7 6 8 7

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Bi Th Kim Tn
Nguyn Th Kim Tuyn Nguyn Ngc Xim Nguyn Th Hng Phc Phm Th Xun Trang V Th Thi Nguyn V Phng Thy Trn Th Bo Trm

VOCABULARIES
Framework (n)=structure. Disastrous(a): causing great damage.

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Constituency(n): people who vote in a election.

Forecasts(n): a prediction or estimate.

Concession(n): failure to challenge or a price discount.

Catalyst (n): a substance that does not itseft change, but

speeds up a chemical reaction.

Destitution: the state of one who lacks a certain amount

of material possessions or money.

VOCABULARIES
something.
Subscriptions (n) : an action or fact of subcribing.

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Quota (n): a fixed number of a group allowed to do

Collaborate(v): work together.

To sponsor = to finance.

Seminar (n): a conference

Rep-office (n): a representative office.

Tackle (v): try to deal with

Sustain (v): keep something going over

IMF IN GLANCE

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IMF was created at the Bretton Woods conference in 1994.

The founders aimed to build a framework for

economic cooperation.

IMF IN GLANCE

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Headquarters: Washington, D.C. Total quotas: US$383 billion. Loans committed: US$282 billion. Biggest borrowers: Greece, Portugal, Ireland.

GROWTH IN IMF MEMBERSHIP

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In the beginning: 29 member countries. Today: 187 member countries. Staffs: about 2,470 from 141 countries.

ORGANIZATION

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THE IMF IN SHORT

Five largest shareholders:
USA

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JAPAN

UK

IMF

GERMANY

FRANCE

THE IMF IN SHORT

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Sixteen other Executive Directors are elected for

two year terms by groups of countries, known as

Constituencies.
The Executive Board meets three times a week,

maybe more.

PURPOSES

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Providing a forum for cooperation on international monetary problems.

Facilitate the growth of international trade, thus

promoting job creation, economic growth, and

poverty reduction.

PURPOSES

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Promoting exchange rate stability and an open

system of international payments. Lending countries foreign exchange when

needed, on a temporary basis and under adequate

safeguards, to help them address balance of

payments problems.

KEY IMF ACTIVITES

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The IMF supports its membership by providing:

Policy advice to governments and central

banks based on analysis of economic trends and

cross-country experiences.
Research, statistics, forecasts, and analysis

based on tracking of global, regional, and

individual economies and markets.

KEY IMF ACTIVITES

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Loans to help countries overcome economic difficulties. Concessional loans to help fight poverty in developing countries. Technical assistance and training to help countries improve the management of their economies.

LENDING BY IMF

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IMF loans are meant to help member countries tackle balance of payments problems, stabilize their economies, and restore sustainable economic

growth.
The IMF is not a development bank and, unlike the

World Bank and other development agencies, it

does not finance projects.

LENDING BY IMF
Today, IMF lending serves three main purposes.

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First, it can smooth adjustment to various shocks,

helping a member country avoid disruptive

economic adjustment or sovereign default.

Second, IMF programs can help unlock other

financing, acting as a catalyst for other lenders.

Third, IMF lending can help prevent crisis.

QUOTA
IMF's main resources: subscriptions (quotas).

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Countries pay 25 percent of their quota

subscriptions in Special Drawing Rights (SDRs)

or major currencies.
IMF can call on the remainder, payable in the

member's own currency, to be made available for

lending as needed.

QUOTA

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-Determine the amount of financing that each country can receive from the IMF. -Are the main determinant of countries' voting power in the IMF. -Broadly reflect members' relative size in the world economy. The largest member is the United States, with a current quota of SDR 42.1 billion (about $68 billion) The smallest member is Tuvalu, with a current quota of SDR 1.8 million (about $2.9 million).

COLLABORATING WITH ORTHERS

The IMF collaborates with:

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The World Bank.

Regional development banks. The World Trade Organization(WTO). UN agencies and other international bodies.

COLLABORATING WITH ORTHERS

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VIETNAM AND IMF RELATIONSHIP

IMFs Chief Representative Benedict Bingham and Prime Minister Nguyn Tn Dng.

SHARES AND REPRESENTS

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At present, Vietnam is holding 0.193% shares valuing SDR 460.7 million, and 0.212% voting rights of IMF. Vietnam is a member of Southeast Asian group including 13 countries.

The CEO for the period 5/2011-5/2013 is Mr.

Der Jiun Chia, a Singaporean.

VIETNAM AND IMF RELATIONSHIP

Saigon government joined the IMF in 1956.

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In 1976, Socialist Republic of Vietnam officially became a member of the IMF.

During the period 1976-1981, the IMF loaned

US$ 200 million to Vietnam to resolve in the balance of payments.

VIETNAM AND IMF RELATIONSHIP

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In Oct. 1993, Vietnam has resumed financial

relations with the IMF.

In period 1993-2004, IMF provided four

loans to Vietnam with total of US$1.094 million. Since Apr. 2004, Vietnam - IMF have no any loan programs. IMF is still very active in conduction of policy consultancy and technical assistance to Vietnam.

VIETNAM AND IMF RELATIONSHIP

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IMF has provided technical assistance in the fields of statistics, policies and tax administration,

monetary, foreign exchange

IMF regularly sponsors staffs of the State Bank and agencies to attend training courses and

seminars

VIETNAM AND IMF RELATIONSHIP

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IMF also sends economic experts to conduct

presentations

about

financial

and

banking

operation, and organizes training courses for State

Bank.
State Bank also sends their staff to work

temporarily at IMFs Vietnam rep-office to learn

and exchange work experience.

VIETNAM AND IMF RELATIONSHIP

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At the meetings, Vietnam delegations showed

the appreciation to the advice and help of the IMF

for Vietnam during the recent crisis.

In return, the IMF also congratulated Vietnam

has overcome the crisis, evaluated the high-speed

economic development in Vietnam and expressed

its willingness to help and support Vietnam.

www.themegallery.com

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