The International Monetary Fund is the most important economic and trade financial organization in the world. 1945 65438+February 27th1947165438+1October 15 became a specialized agency of the United Nations. Its purpose is to stabilize international exchange, eliminate foreign exchange controls that hinder world trade, promote international cooperation on monetary issues, and solve the capital needs of member countries when their international payments are unbalanced by providing short-term loans. The highest authority is the Council, which is composed of member States and meets once a year. The voting right of each country is determined by the fund share paid. The executive board handles daily affairs and consists of 22 executive directors. Among them, the United States, Britain, France, Italy, Japan and Saudi Arabia each have 1 person, and the rest 16 people are elected by region. Headquartered in Washington, USA, the president is in charge.