International Monetary Fund (IMF)

The International Monetary Fund was established in 1944 at the UN Bretton Wood Conference towards the end of World War 2 to promote international financial stability and monetary co-operation. The IMF facilitates international trade, promotes employment and sustainable economic growth with the aim of reducing global poverty. To maintain stability, the Fund monitors member country policies and national, regional, and global economic and financial developments through its surveillance function. It provides advice to member countries and promotes policies designed to foster economic stability, reduce vulnerability to economic and financial crises, and raise living standards. A core responsibility is extending loans to countries experiencing actual or potential balance-of-payments problems.