IMFInternational Monetary FundThe International Monetary Fund, also known as the "IMF" or "Fund", was conceived at a United Nations conference convened in Bretton Woods, New Hampshire, United States in July 1944 The 45 governments represented at that conference sought to build a framework for economic cooperation that would avoid a repeat of the disastrous economic policies that had contributed to the Great Depression of the 1930s.== ►The International Monetary Fund describes itself as "an of 184 countries". , working to foster global monetary cooperation, ensure financial stability, facilitate international trade, promote a high level of employment and sustainable economic growth, and reduce poverty". Development of issues vis-à-vis the IMF == ► In the 1930s , as economic activity in major industrial countries declined, countries began to adopt practices to conserve dwindling reserves of gold and foreign exchange, some countries limited foreign imports, others devalued their currencies, and some began policies of complicated restrictions on foreign currency accounts held by their citizens. These measures led to the great depression of the 1930s. World trade declined dramatically, as did employment and living standards in many countries increased and can be done through government spending so that governments must take the initiative, his argument was a stepping stone to today's fiscal policy.== ►When World War II came to an end, the major Allied countries considered various plans to restore the order in international monetary relations, and at the Bretton Woods conference the IMF emerged.== ►Officially the IMF entered...... halfway through the document ......to provide loans to countries that had problems with balance of payments. This financial assistance allows countries to rebuild their international reserves; stabilize their currencies; continue to pay for imports; and restore the conditions for strong economic growth. Unlike development banks, the IMF does not provide loans for specific projects. Quotas and voting power of IMF members and IMF Board of Governors: The Board of Governors, the highest decision-making body of the IMF, is composed of a governor and an alternate governor for each member country. The governor is appointed by the member country and is usually the finance minister or the central bank governor. All powers of the IMF are vested in the Board of Governors. The Board of Governors may delegate all powers, except certain reserved ones, to the Executive Committee. The Board of Directors normally meets once a year.