The Palgrave Encyclopedia of Global Security Studies

Living Edition
| Editors: Scott Romaniuk, Manish Thapa, Péter Marton

International Monetary Fund (IMF)

  • Tamer KasikciEmail author
Living reference work entry


The International Monetary Fund (IMF) is a specialized agency within the United Nations System. It is an intergovernmental organization that was established in 1944 with the Bretton Woods Agreements signed by 44 countries in the USA. It came to force with the ratification of 29 countries to the IMF Articles of Agreement in 1945. The number of the members has increased rapidly with especially decolonization process in the 1960s and the integration of former Soviet states in the 1990s, and as of 2018, it has reached to 189.

The foundation of the organization rested upon the idea of creating and maintaining stability in the international economy. During the World War II, the allied powers identified the miscalculated and hostile economic policies as one of the main reasons for the war. Therefore the economic stability was one of the fundamental problems which had to be addressed in the construction of the postwar order. Also the war itself worsened the situation of the...


The Bretton Woods Agreements Second World War The less-developed countries Economic stability Economic crisis 
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Further Readings

  1. Bordo, M. D., & James, H. (2000, June). The International Monetary Fund: Its present role in historical perspective. National Bureau of Economic Research Working Paper Series 7724.Google Scholar
  2. Copelovitch, M. S. (2010). The International Monetary Fund in the global economy banks, bonds, and bailouts. Cambridge, UK: Cambridge University Press.CrossRefGoogle Scholar
  3. Moschella, M. (2010). Governing risk the IMF and global financial crises. London: Palgrave Macmillan.Google Scholar
  4. Vines, D., & Gilbert, C. L. (2004). IMF, and its critics: Reform of global financial architecture. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  5. Yago, K., Asai, Y., & Itoh, M. (Eds.). (2015). History of the IMF: Organization, policy and market. Tokyo: Springer Japan.Google Scholar

Copyright information

© The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Department of International RelationsEskisehir Osmangazi UniversityEskisehirTurkey