The IMF draws its financial resources principally from the quota subscriptions of its member countries. It has at its disposal fully paid-in quotas now totalling SDR 145 billion (about USD 215 billion). Member country’s voting power is based upon the country’s quota in the capital.
The basic objective of IMF has been to promote international monetary cooperation. The IMF Charter prescribes its six objectives:
1. To promote international monetary cooperation among members.
2. To facilitate the balanced growth of international trade and to contribute to high levels of employment, real incentive, and productive capacity.
3. To promote exchange stability and orderly exchange arrangements while avoiding competitive currency devaluation.
4. To foster a multilateral system of payments and transfers while eliminating exchange restrictions.
5. To make financial resources available to members.
6. To seek reduction of payment imbalances.