International Monetary Fund (IMF)

The IMF was established in 1944 at the Bretton Woods Conference and became operational in 1945.

  • It is headquartered in Washington, D.C., USA.
  • Its primary objective is to ensure global monetary stability, exchange rate stability, and balanced growth of international trade.
  • It currently has 190 member countries.
  • Each member is assigned a quota, which determines its financial contribution, voting power, and access to financial resources.
  • It provides short- to medium-term financial assistance to countries facing balance of payments (BoP) crises.
  • Quota Reform Stagnation continues, as developing countries (including India) demand greater voting power and representation, but reforms are delayed due to ....
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