International Monetary Fund (IMF)

The International Monetary Fund was created in July 1944 in the conference of the United Nations held in Bretton Woods, New Hampshire (United States), when the representatives of 45 governments agreed to establish an economic cooperation framework to avoid the repetition of the vicious circles of competitive devaluations that led to the Great Depression of the 1930s.

The main purpose of the FMI is to ensure the stability of the international monetary system, that is, the system of international payments and exchange rates, which allow the countries and their citizens to carry out transactions between them. The system is essential to promote sustainable economic growth, improve living standards and reduce poverty. After the experience of this recent world crisis, the FMI has been clarifying and updating its purpose in order to cover issues related to macroeconomics and the financial sector that have an impact on global stability.

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