International Monetary Fund

                        International Monetary Fund 

img src: International Monetary Fund 

The IMF and the World Bank are combined known as the Bretton Woods Organizations or the Bretton Woods Twins . Bretton Woods system is also known as system of fixed exchange rate.

Foundation- 27th December 1945 with 51-member countries 

Total Countries- 189 

Latest Country- Nauru Island 

Headquarters- Washington DC

What is IMF?

IMF or International Monitory Fund is an organization of 189 member countries. Each country has representation on th IMF'S executive board in proportion to its financial importance, so that the most powerful countries in the global economy have the most voting power.

Objectives:-

• foster(encourage the development of something) Global monetary cooperation 
• secure financial stability 
• facilitate International trade  
• Promote high employment and sustainable economic growth And reduce poverty around the world

IMF also known as "fund" was conceived at UN conference in Bretton Woods, New Hampshire, United States, in july 1994 .

IMF promoted the system of floating exchange rate because

Wood system collapse in 1971 and floating exchange rate is used till date.