| International Monetary Fund | |
| Type | International Economic Organization |
| Headquarters | Washington, D.C. United States |
| Membership | 185 Nations (Founding); 187 Nations (To Date) |
| Official languages | English, French, and Spanish |
| Managing Director | Christine Lagarde |
| Main organ | Board of Governors |
| Website | |
The International Monetary Fund was conceived in July 1944 during the United Nations Monetary and Financial Conference. The representatives of 45 governments met in the Mount Washington Hotel in the area of Bretton Woods, New Hampshire, United States, with the delegates to the conference agreeing on a framework for international economic cooperation. The IMF was formally organized on December 27, 1945, when the first 29 countries signed its Articles of Agreement. The statutory purposes of the IMF today are the same as when they were formulated in 1943 .
The IMF’s influence in the global economy steadily increased as it accumulated more members. The number of IMF member countries has more than quadrupled from the 44 states involved in its establishment, reflecting in particular the attainment of political independence by many developing countries and more recently the dissolution of the USSR. The expansion of the IMF’s membership, together with the changes in the world economy, have required the IMF to adapt in a variety of ways to continue serving its purposes effectively.
Objectives
Objectives
The objectives are to stabilize international exchange rates and facilitate development through the influence of neoliberal economic policies. in other countries as a condition of loans, debt relief, and aid. It also offers loans with varying levels of conditionality, mainly to poorer countries. Its headquarters is in Washington, D.C. The IMF’s relatively high influence in world affair s and development has drawn heavy criticism from some sources.
Source : Internet
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