International Monetary Fund (IMF)

📌 Background & Key Features

Mandate: Ensures international monetary/exchange-rate stability, provides balance-of-payments support, and conducts annual Article IV surveillance of member economies.
Governance critique: Voting power remains skewed toward the US and Europe; over 85% approval is needed for major quota/governance reform, making change extremely difficult — a key India/G20/BRICS reform demand.
India’s standing: Finance Minister is India’s ex-officio IMF Governor; India has not needed financial assistance since 1993 and has instead become a source of policy credibility, having implemented major reforms (GST, inflation targeting, digital public infrastructure) praised in IMF reviews.

Founded	1944, Bretton Woods Conference
India’s quota	~2.75% (8th largest quota-holder), after the 14th General Review of Quotas
India’s IMF debt status	Debt-free since 2000 — last loan repaid 31 May 2000

The 2025 Article IV Consultation (Nov 2025) projected India’s FY2025/26 growth at 6.6%, even under a 50% US tariff scenario, crediting GST reform and digital infrastructure for cushioning the shock.
India continues to push quota and governance reform at the IMF/World Bank via G20 and its 2026 BRICS Presidency, seeking a rebalancing toward emerging economies.

Founded: 1944, Bretton Woods Conference
India’s quota: ~2.75% (8th largest quota-holder), after the 14th General Review of Quotas
India’s IMF debt status: Debt-free since 2000 — last loan repaid 31 May 2000

Year	Question	Marks
2017	The World Bank and the IMF, collectively known as the Bretton Woods Institutions, are the two inter-governmental pillars supporting the structure of the world’s economic and financial order. Comment.	15