- The International Monetary Fund (IMF) is an international
Economic organization.Its main purpose is to oversee global financial health
and provide assistance when needed to its members.
- The major
countries of Europe and America control the IMF. This is because they have
given more money to IMF by way of first subscriptions, and so have larger share
of voting rights.
Formation of IMF:
It was created on July 22, 1944 at the Bretton Woods
Conference and came into existence on December 27, 1945 when 29 countries
signed the Articles of Agreement.
Headquarters:
It has its
headquarters in Washington, D.C., USA.
Membership:
1) The IMF describes
itself as “an organization of 188 countries (as of April 2012), working to
foster global
