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BRILLIANT'S Export Management 263

7. To assist in the establishment of a multinational system of pay-
ments in respect of current transactions between members and
in the elimination of foreign exchange restrictions which hamper
the growth in the world trade.
8. To lend confidence to members by making the fund’s resources
available to them under adequate safeguards, thus providing them
with opportunity to correct maladjustments in their balance of
payments without resorting to measures destructive of national
or international prosperity.
9. In accordance with the above, to shorten the duration and lessen
the degree of disequilibrium in the international balance of pay-
ments of members.
Functions of IMF
1. The IMF is regarded as “the guardian” in the area of balance of
payments.
2. It aims at reducing tariffs and other trade restrictions by the
member countries.
3. It provides short term financial assistance to its member to get
rid of balance of payments problem/crisis.
4. It provides technical advice to its members regarding monetary
and fiscal policies.
5. It provides machinery for the orderly adjustment of exchange rates.
6. It acts as reservoir of currencies of member countries and to
enable the members to borrow the other currencies.
7. It functions as a lending institution of foreign currencies.
8. It provides a machinery for altering the par values of the currency
of a member country, in order to improve long-term balance of
payments position of member countries.
9. It also provides a machinery for international consultancy.
10. It conducts research studies and publishes the reports.
11. It conducts short-term training courses on fiscal, monetary and
balance of payments for the employees of member countries
through its Central Banking Service Department, the fiscal Af-
fairs Department, Bureau of Statistics and the IMF Institute.
Organization and Structure of the Fund
The II Amendment of the Articles of Agreements made important
changes in the organization and structure of the Fund. As such, the struc-
ture of the Fund consists of a Board of Governors, an Executive Board, a