INTERNATIONAL MONETARY FUND (IMF)

The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries – especially those with an impact on exchange rates and the balance of payments. The IMF was conceived in July 1944, when 45 countries agreed on a framework for international cooperation that would be established after the Second World War. It was believed that the plan was needed to avoid a repeat of the policies that caused the Great Depression.

Today, the International Monetary Fund consists of 186 member countries and works foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

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