The oldest global financial organization ensures the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It provides advice to member countries and promotes policies designed to foster economic stability, reduce vulnerability to economic and financial crises, and raise living standards. The organization also provides periodic assessments of global prospects, financial markets, public finance developments, and external positions of the largest economies in addition to a series of regional economic outlooks.