IMF 1st deputy managing director to visit Iran in near future


TEHRAN, May 09, (Shana) — IMF First Deputy Managing Director David Lipton is expected to visit Iran in the near future.

First deputy managing director of the International Monetary Fund (IMF) heading a five-member delegation is scheduled to meet Iranian high ranking officials including the economic officials.

He will discuss previous agreements with Iran and confer with Iranian officials on ways of development of cooperation

between Tehran and IMF.

The IMF is an international organization headquartered in Washington, D.C., of “189 countries working to foster global

monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Formed in 1944 at the Bretton Woods Conference, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments difficulties can borrow money. As of 2010, the fund had SDR476.8 billion, about US$755.7 billion at then exchange rates.