International Monetary Fund

      International Monetary Fund is an international monetary institution aimed at facilitating the monetary balance  to member countries. The organization was a result of Bretton Woods agreement made in UN conference in 1944 & formed on 27 December 1945. It started functioning on 1st March 1947 with headquarters at Washington DC, USA.

History

  The idea of an International Monetary cooperation emerged after the Second World War which made many world countries virtually limping. As a result the 44 country delegates met at  UN headquarters and the agreement resulted in the birth of IMF.

Objective

  Their primary object is to ensure the stability of international monetary system by promoting monetary co-operation & exchange stability. They keep eyes on global economy and that of its member countries & resources are made available to countries which suffers balance of payment problems.

   They govern & are accountable to 189 member countries. IMF gives away the Global financial stability report. IMF’s publication is called 'World Economic Outlook'.