International Monetary Fund

International Monetary Fund (IMF)

An organization founded in 1944 to oversee exchange arrangements of member countries and to lend foreign currency reserves to members with short-term balance of payment problems.

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International Monetary Fund

An international organization that seeks to maintain stability in the global economy. It does this primarily by monitoring the balance of payments for different countries and implementing restructuring agreements with countries in need of help. It was established by Bretton Woods in 1944. See also: Special Drawing Rights, World Bank System.

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International Monetary Fund (IMF)

An international financial agency that is affiliated with the United Nations and has as goals the stabilization of foreign exchange rates, lowering of trade barriers, and correction of trade imbalances among countries. The IMF, which was established in 1944, works with countries much as a credit counselor works with individuals having financial difficulties.

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International Monetary Fund (IMF). The IMF was set up as a result of the United Nations Bretton Woods Agreement of 1944 to help stabilize world currencies, lower trade barriers, and help developing nations pay off debt.

The IMF's activities are funded by developed nations and are sometimes the subject of intense criticism, either by the nations the IMF is designed to help, the nations footing the bill, or both.