IMF full formFull form of IMF is International Monetary Fund.
Headquartered in Washington, DC, the International Monetary Fund (IMF) is an international organization of 189 countries working to increase global financial cooperation, international trade, secure financial stability, high employment and sustainable economic growth, and reduce global poverty. Created in 1945, it is managed by the IMF and is accountable to 189 countries that make up its near-world membership. The primary purpose of IMFs is to ensure the stability of the international financial system - especially by focusing on policies that affect exchange rates and balancing payments that enable countries (and their citizens) to transact with each other. The fund's mandate was updated in 2012 to cover all financial sectors and macroeconomic issues that contribute to global stability. The IMF now plays a central role in balancing the financial crisis and the international financial crisis. Countries contribute funds to a pool through the quota system from which countries suffering from balance of payments can borrow money. As of 2001, the fund's SDR was 477 billion (approximately $ 667 billion). The IMF works to develop the economies of its member countries through the demand for funds, other activities and specific policies.