The International monetary fund has long become a home name for the millions of people of diverse races, cultures, and economies. Particularly for economists, cooperative organizations, governments, and students.
The body consisting of 190 member countries is concerned with the sole aim of promoting or facilitating stability at the financial level across all the member countries and also causing stability in monetary cooperation. They also promote International trade, growth in employment level, and relative sustainability in the growth of economies, which would finally result in the reduction in the level of poverty across the globe.
It is factual that education is a veritable tool in the development of man and serves as a veritable tool in enlightening the human mind and thereby informing positive actions that are profitable and alleviate poverty. In light of this, the International Monetary Fund allows eligible and credible students to undergo a highly esteemed internship with the organization.
This internship is to be carried out during the summer, in the United State of America. This unique opportunity allows the interns the opportunity to have or obtain first-hand experience in the dealings of the International Monetary Fund. Activities range from getting a first-hand view of the various mandates that member countries are working towards and they would also get a clearer yet invigorating or daring work structure of the International Monetary Fund.
For every Intern, they would be given the opportunity to build a highly resourceful channel of professional networks, and would the given the opportunity to engage their own initiatives or experiences particularly with regards to research and analytics. This will see determined interns make relevant and ground breaking Interventions that would help solve very critical questions that relates to the global stability of member countries.
This internship pose for successful interns the privileged opportunity to voyage into a successful career where there passion for solving problems that would lead to sustainable development for member countries.
The International Monetary Fund Internship poses to prospects a window to endless opportunities especially as it regards to either becoming better informed about the dealings of the IMF, such as its policies, mode of operation, or engagement. Or you just want to get a level of high experience from working in an international organization, then this internship could just be your best bet. All successful interns will be given the opportunity to leverage on the level of research and build on their existing skills and experience.
The International Monetary Fund internship allows applications from all potential candidates from walks of life, race, and class. The approximate number of slots for students who desire to participate in this internship is 50. This is a very competitive internship, where you have to put in your best especially in the area of application.
Upon the successful selection of the students, they are transferred to the headquarters in Washington, D.C where they would continue their learning process. For them, it’s a priceless opportunity that has been given to them and they would desire to beat their previous records. All the students are paid a stipend and such paid internships, take place between June and October and usually run for a subtle period of 10 to 12 weeks.
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Job Description for Interns undergoing the International Monetary Fund Internship
All successful interns upon approval and deployment are expected not to lose time in making a significant impact in their respective departments and the International Monetary Fund in General. Hence, they are each assigned to work collaboratively with an experienced IMF colleague or staff. They are tasked to look into existing and important issues or are sometimes required to research important topics of member countries.
This gives the intern a sense of responsibility and they have to employ diligence and prowess in their work or assignments. All viable results are to presented to supervising IMF staff and most times the IMF has had to publish the intelligent works of their interns in the past.
Eligibility for the International Monetary Fund Internship
The International Monetary Fund Internship program, like many other such positions, adopts a system or series of requirements to help with the certification of prospective interns.
You will find most the various criteria for application for the Internship position below;
First, for the prospective interns whose field is related to the Economic internship category, they must
- Be majored in or chosen a part in their studies on monetary and global or international economics, public finance, economics proper, financial markets, or any related field.
- In conjunction with the first criterion above, all prospects must possess a strong command of analytical and quantitative skills.
- All prospective interns should have an excellent command of both written and oral English. This would aid in effective transmission.
For students who are currently working towards completing their master’s degree, they must also meet the following;
- At the time of their application into the International Monetary Fund Internship program, must be registered as full active students in their institution of learning.
- For all prospective students under this category, they must not be above the age of 27, at the time of commencement of their internship.
For those currently working towards rounding off their Ph.D. they also must fulfill certain criteria in order for them to be considered, they include;
- As at the time of the application, they must all be registered as active students in their institutions of learning.
- They must all not be above the age of 32 upon commencement of the internship.
In the second category, we have those who would be applied to the Legal Department Internship. The following are the criteria for consideration;
- All prospective interns for the International Monetary Fund Internship must be within the range of one to two years of completion of their LLM, J.D, or any other equivalent advanced degree in the field.
- No applicant should be above the age of 32 upon commencement of the internship. Else it could cause forfeiture of such an awesome opportunity
The IMF has openings in a variety of fields, including Economics, Research, Legal, information technology, Finance, Accounting, Human Resources, and Communications, international economics, public finance, financial markets, economics, or a related field.
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Method of Application for the IMF Internship
If you think this opportunity soothes your burning passion to learn, proceed with solutions and initiate change then you should visit https://imf.wd5.myworkdayjobs.com/IMF
We recommend students apply for the IMF internship program as there will gain lots of experience If shortlisted. If you have further inquiries in this regard during your application, do well to contact us here at Xscholarship.com
FAQs on International Monetary Fund (IMF) Internship Program
A resume is required for your application to be considered. Attach your cover letter explaining why you are a good fit for the IMF and this vacancy. Your cover letter can be added during the application process under the ‘My Experience’ tab using the “Resume/CV” file upload field.
The IMF’s resources mainly come from the money that countries pay as their capital subscription (quotas) when they become members. Each member of the IMF is assigned a quota, based broadly on its relative position in the world economy. Countries can then borrow from this pool when they fall into financial difficulty.
The IMF offers a highly competitive salary and benefits package, flexible working arrangements, and a diverse, dynamic, and supportive working environment. With headquarters in Washington, DC, staff also benefit from the many advantages of living in one of the world’s great cities.
It took around eight months and four interviews. One over the phone and three panels. Have good references ready because they check. There were also proof-writing tests, I also had to do a presentation in PPT in one of the tests.
In Fiscal Year 2020, the IMF awarded US$ 215,000 in grants to charities across the globe. Additionally, corporate donations totaling US$ 110,000 were provided by senior management during country visits to developing economies in support of grassroots charities.
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