The International Monetary Fund (IMF) was conceived and established at a United Nations meeting held in Bretton Woods, New Hampshire in July 1944. The 44 countries attending the meeting tried to establish an economic cooperation framework to avoid the recurrence of competitive currency devaluation that aggravated the Great Depression of the 1930s.

The responsibility of the IMF? The main purpose of the IMF is to ensure the stability of the international monetary system, that is, the exchange rate system and the international payment system that countries (and their citizens) rely on for mutual transactions.

Governance and organizational structure

IMF is accountable to member governments. The highest level of its organizational structure is the Council, which consists of a director and a deputy director of each member country, usually from the central bank or the Ministry of Finance. The Board of Directors meets once a year during the annual meeting of the International Monetary Fund/World Bank. ? The International Monetary and Financial Committee consists of 24 directors and usually meets twice a year.

The day-to-day work of the International Monetary Fund is carried out by a 24-member executive board representing all member countries; Its work is guided by the International Monetary and Financial Committee and supported by IMF staff. The president is from the IMF? The Chef de Cabinet also chairs the Executive Committee, assisted by four Vice-Chairmen.

Reference to the above content: International Monetary Fund-Baidu Encyclopedia