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The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.
The International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established by delegates at the Bretton Woods Conference in 1944 and became operational in 1946. [10] According to a March 2012 Washington Post article, IBRD was the "original 'world bank'". [11]
The result was that the U.S. became a founding member of the IMF. American influence was strong from the beginning; at its inception and during its early years, the IMF was founded in large part on core principles presented by American Chief International Economist of the U.S. Treasury Department Harry Dexter White. [2]
Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
Founded Name Notes HQ 1944: IMF International Monetary Fund: Specialised agency of the UN: Washington, D.C. 1944: IBRD International Bank for Reconstruction and Development: World Bank Group, Specialised agency of the UN: Washington, D.C. 1956: IFC International Finance Corporation: World Bank Group: Washington, D.C. 1960: IDA International ...
Harry Dexter White (left) and John Maynard Keynes, the "founding fathers" of both the World Bank and the International Monetary Fund (IMF) [11] The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12]
Canada is one of the original members of the International Monetary Fund, having joined it on December 27, 1945. [1] It has a quota of 11,023.9 million SDRs and 11,698 votes, 2.31% of the total IMF quota and votes, ranking the 9th of all. Canada has been represented on the IMF Board of Governors by Minister of Finance Chrystia Freeland since ...
The International Monetary Fund is an international US-based organization of 188 countries focused on international trade, financial stability, and economic growth.