According to the agreement signed by the International Monetary Fund at the Bretton Woods Conference in July 1944, it was established in Washington on February 27th 1945.
The main functions of the imf international organization:
Formulate and supervise exchange rate policies, current account payments and currency convertibility rules among member States.
When necessary, provide emergency financing to member countries with balance of payments difficulties to avoid other countries being affected by it.
To provide a place for international monetary cooperation and consultation among member countries.
Promote international cooperation in the financial and monetary fields.
Promote the pace of international economic integration.
Maintain the international exchange rate order.
Assist in establishing a normal multilateral payment system among member States.