IMF

The International Monetary Fund (IMF) is a global financial organization established in 1944 to promote international monetary cooperation, stabilize exchange rates, and provide financial assistance to countries in need. With 190 member countries, the IMF plays a crucial role in shaping global economic policies, offering financial aid through loans, technical assistance, and surveillance of economic trends. It is headquartered in Washington, D.C., and is guided by member nations that contribute funds based on their economic size.

India has been a member of the IMF since 1945, actively engaging with the institution on matters of economic policy, financial stability, and development projects. While India has not relied on IMF loans in recent years, it participates in policy discussions, receives technical support, and contributes to global economic research through the organization. India has focused on structural reforms, monetary policies, and financial regulations with the IMF's assistance, ensuring robust economic growth.

In August 2019, BOOM fact-checked a viral claim suggesting that India’s debt from international financial institutions, like the World Bank, had been reduced to zero under Prime Minister Narendra Modi's leadership.

BOOM found that the claim was false; India continues to maintain financial engagements with global institutions, including the World Bank and the IMF.