IMF

IMF
It is an abbreviation used for international monetary fund. This is organization consisting of one hundred and eighty six countries, workingwith aim of worldwide economic cooperation, secure the economic stability, aid international trade, endorse high employment and the sustainable growth of the economy and lessen poverty in the world. It supervises the worldwide financial system of the member countries by observing the policies which have an effect on the exchange rates and payment balance. It also provides highly leveraged loans for the underdeveloped countries. IT was created in 1994 during the Financial Conference when delegates agreed on the framework for the economic cooperation. This happened after less famous Great Depression when the countries made an attempt to save the economies by increasing barriers to the overseas trade and by devaluing the self-currencies. As the measures wereregarded as self-defeating, this becameimportant to create an organization that would make sure about the stability of the exchange rate.