I.M.F (International Monetary Fund)

The I.M.F was conceived in July 1944, when representatives of 45 governments meeting in the town of Bretton Woods, New Hampshire, in the Northeastern United States, agreed on a framework for international economic cooperation. They believed that such a framework was necessary to avoid a repetition of the disastrous economic policies that had contributed to the Great Depression of the 1930s.

The IMF performs three Main Activities:

• Monitoring national, global and regional economic and financial developments and advising member countries on their economic policies (Surveillance)
• Lending members hard currencies to support policy programs designed to correct balance of payments problems.
• Offering technical assistance in its areas of expertise, as well as training for government and central bank officials.