The Evolving Role of the IMF in the Global Economy

Iran is among the first countries which joined the International Monetary Fund (IMF), and as a result, it always tries to play an active role in this International Monetary Institution. However, the organization that we distinguish now, is quite different from the one established in six decades ago. Hence in this paper an attempt is made to expound how the IMF, due to significant developments in global economic environments has transformed its modus operandi from a monetary to a financial institution, to accomplish a wider mandate sine qua non. Initially, the IMF as an institution, had de facto the task of monitoring the stability of fixed exchange rate regime, but at present, it is an organization which oversees the robustness of international payments system and global financial markets quid pro qua.