The Role of International Monetary Fund (IMF)
Today, the International Monetary Fund (IMF) is known as the organization composed of 189-member states, with a mandate of “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” (IMF, 2016). It was initially organized during the Bretton Woods Conference in 1994, and later existed formally with 29-member states in 1945. It can be considered as a project spearheaded by the Allied nation in their attempt to regulate the international financial and monetary order after the World War II. At the conclusion of the Breton Woods Conference, agreements were signed and ratified thereafter by member states. One result of the agreements, as mentioned, is the creation ...