The International Monetary Fund was created in 1945 and aims to ensure the basic stability of the international monetary system, especially through the promotion of cooperation and consultation on monetary matters among its 187 member countries. Along with IBRD, IMF emerged from Bretton Woods Conference as one of the pillars of the international economic order after the war. The IMF aims to prevent imbalances in the balance of payments and exchange rate systems in member countries that may hinder expansion of trade and international capital flows. The Fund favors the progressive elimination of foreign exchange restrictions in member countries and provides resources to temporarily prevent or remedy imbalances in the balance of payments
ara information, visit www.imf.org