International Monetary Fund (IMF)
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...
KeywordsThe Bretton Woods Agreements Second World War The less-developed countries Economic stability Economic crisis
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