The International Monetary Fund (IMF), headquartered in Washington, D.C., is a global organization made up of 185 member countries, founded in 1944 with the purpose to oversee global financial health and provide assistance when needed to its members. The IMF plays major roles in the global monetary system. It states the goals as-
- To promote international monetary cooperation, exchange stability, and orderly exchange arrangements;
- To foster economic growth and high levels of employment; and
- To provide temporary financial assistance to countries to help ease balance of
payments adjustment.