International Monetary Fund

International Monetary Fund is an organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. International Monetary Fund was conceived in July 1944, when representatives of 45 countries meeting in the town of Bretton Woods, New Hampshire, in the northeastern United States, agreed on a framework for international economic cooperation, to be established after the Second World War.  These representatives believed that such a framework was necessary to avoid a repetition of the disastrous economic policies. It came into formal existence in December 1945, when its first 29 member countries signed its Articles of Agreement. International Monetary Fund’s primary objective is to help ensure stability in the international system. It does that in three different ways: keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to members. Marked by massive movements of capital and abrupt shifts in comparative advantage, globalization affects countries' policy choices in many areas, including labor, trade, and tax policies. While avoiding potential downsides, International Monetary Fund helps countries to benefit from globalization as it is an important task for it. International Monetary Fund supports its near-global membership of 188 countries by providing: policy advice to governments and central banks based on analysis of economic trends and cross-country experiences; research, statistics, forecasts, and analysis based on tracking of global, regional, and individual economies and markets; loans to help countries overcome economic difficulties; concessional loans to help fight poverty in developing countries; and technical assistance and training to support countries improve the management of their economies. International Monetary Fund was established in 1945 and is headquartered in Washington, D.C.

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