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Write a note on international Monetary Fund (IMF).

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1. International Monetary Fund was established in 1945 after the Bretton Woods conference in 1944 along with the World Bank. 

2. It is located in the Washington in United States. 

3. The idea of starting of IMF was given by Harry Dexter, White and John Maynard Keynes, a famous economist. 

4. The initial members of the IMF were 29. Now, there are 189 member countries with IMF, 

5. The main objectives of IMF include to foster global monetary co-operation, to secure financial stability, to facilitate trade, promote employment, to sustain economic growth and reduce poverty all over the world. 

6. The fund lends money to its member countries to correct their balance of payment position if they are unable to pay for their imports.

7. The funding from IMF is not very easy as it strictly imposes restrictions on lending. 

8. It imposes the developing nations to tighten the budgets and reduce fiscal expenditure.

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