When was the IMF?

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The International Monetary Fund (IMF) was created in December 1945. the fundamentals of this organization was established in July 1944 by the 44 nations who attended the Bretton Woods Conference in New Hampshire, USA. During that meeting was designed also the International Bank for Reconstruction and Development, known as World Bank. The two institutions were designed for the purpose of reorganizing the world economy after the end of the Second World War (1939-1945). The IMF, which recently conducted its first operations in 1947, is funded through fees paid by each member country. The amount to be provided by members of the Fund is calculated on the basis of a formula that takes account of its Gross Domestic Product (GDP), its reserves and its commercial potential.

What kind of loans granted by the IMF?

The International Monetary Fund provides short term loans. The holders of these loans countries must agree with the IMF reforms in their economies to ensure the return of funds.

What were the specific objectives of the Fund's inception?

In the Bretton Woods Conference if set as goals for the IMF to ensure the economic cooperation and international liquidity.

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