- The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries.
- Its headquarters is in Washington D.C.
- It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange rate stability.
- Its stated mission is “working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
- It was Established in July 1944 at the Bretton Woods Conference, primarily according to the ideas of Harry Dexter White and John Maynard Keynes
- It started with 29 member countries and the goal of reconstructing the international Monetary System after World War II.
- The current managing director (MD) and chairperson of the IMF is Bulgarian economist Kristalina Georgieva.
- Indian-American economist Gita Gopinath, previously the chief economist, was appointed as first deputy managing director.
- Pierre Olivier Gourinchas was appointed chief economist.
- IMF works to foster global growth and Economic Stability by providing policy advice and financing to its members.
- It also works with developing countries to help them achieve macroeconomic stability and reduce poverty.
Source: PIB, Wikipedia, The Hindu, The Indian Express, The Times of India, X