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IMF - International Monetary Fund


The International Monetary Fund was conceived in July 1944 during the United Nations Monetary and Financial Conference.

Its headquarters are in Washington, D.C., United States.

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.

It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development through the enforcement of liberalising economic policies on other countries as a condition for loans, restructuring or aid.

It also offers loans with varying levels of conditionality, mainly to poorer countries. The IMF's relatively high influence in world affairs and development has drawn heavy criticism from some sources.


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