International Monetary Fund(IMF) was formed to promote international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problem.
This are some of the functions of the fund to member states including Nigeria
International Monetary Fund performs three basic functions of advising member states on policies and global surveillance, rendering financial assistants and providing training and technical assistance.
Poverty Reduction Strategy Programme; this has been widely spread across the developing economies and those economies in transition.
Heavily Indebted Poor Countries (HIPCs) Initiative: the IMF, in collaboration with the World Bank, has adopted the HIPCs Initiative by forgiving and canceling the external debts of a member of countries that are categorized as heavily indebted poor countries. The amount so forgiven was to be redirected into the internal economic development of the concerned economies.
New Partnership for Africa’s Development (NEPAD) Support and Sponsorship, among other Regional Integrations. The IMF has encouraged and sponsored the African leader’s initiative to take their developmental destiny into their hands. This is, in a sense, promoting good governance within the African Sub-Region economies.
Regional Training and Technical Assistance: The IMF has trained a number of the citizens of member countries in order to contribute more effectively to poor and development issues of their home countries. A number of centers across the world have been established by IMF to foster this assistance.