Countries

UNdata International Monetary Fund The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., of "188 countries 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."[1] Formed in 1944 at the Bretton Woods Conference, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments difficulties can borrow money. As of 2010[update], the fund had XDR476.8 billion, about US$755.7 billion at then-current exchange rates.[4] Functions[edit] The IMF's role was fundamentally altered by the floating exchange rates post-1971. Surveillance of the global economy[edit] IMF Data Dissemination Systems participants: IMF member using SDDS IMF member using GDDS Benefits[edit]