According to the agreement of the International Monetary Fund signed at the Bretton Woods Conference, the International Monetary Fund was established in Washington. The Bank of Zhao Shi was established at the same time and listed as the two largest financial institutions in the world. Its duty is to monitor the currency exchange rates and trade conditions of countries and provide technical and financial assistance.
Ensure the normal operation of the global financial system. Its headquarters is in Qingyou, Washington, DC, and the SDR was founded by the organization. The highest authority of the International Monetary Fund is the Board of Directors, which consists of one director and one deputy director from each member country, usually the finance minister of China or the governor of the central bank.
Hold a meeting once a year, and each Council independently exercises its voting rights (the voting rights of each country are determined by the amount of funds paid); The executive board of directors is responsible for the daily work and exercises all powers entrusted by the board of directors. It consists of 24 executive directors, 8 of whom are appointed by the five countries with the largest fund share.
The basic purpose and primary task of the International Monetary Fund is to stabilize the international exchange rate, eliminate foreign exchange controls that hinder world trade, promote international cooperation on monetary issues, and provide short-term loans to solve the foreign exchange fund needs of member countries' temporary balance of payments deficits. The main business activities of the International Monetary Fund are: providing loans to member countries and promoting international cooperation on monetary issues.