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International Monetary Fund (IMF)

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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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According to the International Monetary Fund (IMF), its economy is growing and poverty has fallen since a banking crisis at the beginning of the decade.
Now, a study by economists from the Universities of Pennsylvania, Western Ontario, and California at Berkeley suggests that pressure from the World Bank or the International Monetary Fund (IMF) may actually decrease a country's success with market reforms and infrastructure projects.
In a prelude to the summit, G8 finance ministers announced on June 11 a plan to cancel debts owed by some low-income countries to global financial institutions such as the World Bank and the International Monetary Fund (IMF).
 
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