Why was it created?
The IMF was conceived in
July 1944, when
representatives of 45
governments meeting in
the town of Bretton
Woods, New Hampshire,
in the northeastern United
States, agreed on a
On October 1, 2019, Kristalina
Georgievawas named Managing
Director of the IMF
• Helping in international trade, that is business
• Looking after exchange rates
• Looking after balance of payments
• Helping member countries in economic
• It also provides a machinery for international
- IMF lending enables countries to rebuild their international
reserves; stabilize their currencies; continue paying for imports;
and restore conditions for strong economic growth.
- IMF does not lend for specific projects.
- It eases the adjustment policies and reforms that a country
must make to correct its balance of payments problem and
restore conditions for strong economic growth.
• It supports the development of the
productive resources of member countries by
helping them to effectively manage their
economic policy and financial affairs.
• About 90 percent of IMF technical assistance
goes to low and lower-middle income
countries, particularly in sub-Saharan Africa