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International Monetary Fund: Difference between revisions
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Latest revision as of 18:59, 28 February 2024
The International Monetary Fund (IMF) was established as part of the Bretton Woods Agreement and is an international organization headquartered in Washington, D.C., United States of America.
Initially formed in 1945 with the goal of reconstructing the war-ravaged countries after World War II, it now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money.
There have been many criticisms of the policies imposed by the IMF on the countries borrowing money.