IMF

The International Monetary Fund is an international organization. IMF is responsible for ensuring the stability of the International Monetary System. By observing exchange rates and balance of payments, it also looks after the global financial system. It also provides financial and technical assistance to its member countries on their request.

Origin:
To cope with the monetary problems that arose during the World War two a conference was held on July 1, 1944 at Bretton Woods, New Hampshire, Number of suggestions were proposed, leading finally to the establishment of an International Monetary Fund. In this conference the Article of Agreement was drawn up and it was signed by 29 countries. The fund started its operations in May 1946. Its registered office is in Washington DC and present 185 countries are its members.