Membership of IMF

Any country can become a member of IMF by fulfilling certain terms and conditions. Initially the application of membership will be considered by the Executive Board. After that, if the Board is satisfied than it will submit a report along its recommendations about subscription, amount of quota and other terms and conditions, to the Board of Governors. The Board of Governors then ask the applicant country to fulfill the obligations of IMF membership required to sign the IMF's articles of agreement