The International Monetary Fund (hereinafter referred to as 🙂 was established in Washington on December 27, 1945 according to the International Monetary Fund agreement signed at the bretton woods conference in July 1944.
The IMF was established at the same time as the World Bank and ranked as the world’s two major financial institutions. Its responsibility is to monitor and provide technical and financial assistance to ensure the normal functioning of the global financial system.
Its headquarters are in Washington, DC.
The organization we often hear was founded in 1969.
The International Monetary Fund adopts parity system, stipulating that each member country must set the parity of its own currency.
Prices in each country must not vary by more than 1% of parity.
However, in the event of a fundamental imbalance in the balance of payments of Member States, a request for parity adjustment can be made to the Fund.
