From Traderpedia

Definition: A supra-national organization with the objective of promoting international monetary cooperation, exchange stability, and to foster economic growth and high employment levels.

The International Monetary Fund was established along with the World Bank in 1945.

The fund is affiliated with the United Nations, and in additional to the aforementioned duties also helps member countries (including developing countries) with loans to help balance payment difficulties. These loans often come with conditions attached that require dramatic economic change by the recipient/s of the funds.

The IMF is run by it's country shareholders, whose voting power is determined by the amount of money that have put into the fund. Perhaps unsurprisingly, the United States has the largest percentage of the vote and the power to veto as the largest shareholder.

[edit] External links

• IMF website