Posted by The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C., consisting of 190 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 while periodically depending on the World Bank for its resources.
Formed in July 1944, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016, the fund had XDR 477 billion (about US$667 billion)
Fund Internship Program (FIP)
IMF’s summer interns gain an insider’s view of the member-country-focused mandate and critical international work of the IMF. You will build professional networks while you apply your research and analytical skills to help them explore questions of real importance to IMF’s member countries and to global economic stability.
Whether you see a future for yourself in international organizations or are simply curious about policy and operational work, this is an ideal opportunity to familiarize yourself with both while leveraging your cutting-edge skills and expanding your research experience.
IMF recruits for the FIP on a global basis with approximately 50 students from around the world joining each year at IMF headquarters in Washington, D.C.
Duration
These paid internships take place between June and October and run for 10 to 12 weeks.
Responsibilities and Duties
You will work closely with an experienced IMF colleague on a current issue or research question of importance to our members. ( See below for information on internships in the IMF’s Legal Department). The results of your work may be presented to IMF staff at the end of your internship, and many of our interns have had their work published by the IMF.
Previous FIP Research Topics
- A Bottom-Up Approach to Modeling Inflation Dynamics in LAC
- Taking Stock of Digitalization and its implications for Inflation Dynamics and Monetary Policy
- A Review of the Experience with Diversification, Poverty Reduction, and Inequality
- The Role of Prudential Policies in Attenuating the Credit Cycle
- Macro-Financial Performance, PFM, and Corruption Indicators
- The Role of Intangible Assets and Innovation Policy in ASEAN
- What is Behind High Interest Rate Spreads in Africa?
The IMF’s Legal Department also offers internships under this program. In past years, Legal Department projects have included:
- Analysis of the Legal Framework for Capital Controls Under the European Economic Area
- Research on the Insolvency of Non-Bank Financial Institutions
- Research on the Legal Mandate of the IMF In Financial Regulation
- Cross-Country Comparisons of Effectiveness in AML/CFT Efforts
Remuneration/Reimbursements
This internship is paid. FIP participants receive:
- A competitive salary
- Round-trip restricted economy class air travel from their university to Washington, D.C.
- Limited medical insurance coverage.
Eligibility
For the Economic internship, you should have concentrated your studies on
- Monetary and International Economics
- Public Finance
- Financial Markets
- Economics, or a related field.
In addition, you should possess strong analytical and quantitative skills and have an excellent command of written and oral English.
If you are currently completing a Ph.D., you must be:
- Registered as an active student (i.e. returning to university studies after completing the internship)
- Below the age of 32 at the start of the internship
If you are currently completing a master’s degree, you must be:
- Registered as an active student at the time of application (not yet graduated)
- Below the age of 28 at the commencement of the internship
If you are applying to the Legal Department Internship you must be:
- Within one to two years of completing an LLM, J.D, or equivalent advanced degree in law
- Below the age of 32 at the commencement of the internship
Note: India is one of the member countries of the IMF. Therefore, Indian students are eligible for this internship.
Procedure for Application
Students in macroeconomics or a related field should apply through JobLink and, after completing all fields in the form, be sure to enter 1800920 into the field titled, “Job Number.”
A Law student or a student in a related academic field should apply through JobLink [Given below], and, after completing all fields in the form, be sure to enter 1800904 into the field titled, “Job Number.”
Relevant Link
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