International Monetary Fund (IMF) is an international organization of 188 member countries established to promote international monetary cooperation, exchange stability and orderly exchange arrangements. It seeks to foster economic growth and high levels of employment and to provide temporary financial assistance to countries to help ease balance of payments adjustment. Since it was established in 1944, its purposes have remained unchanged but its operations, which involve surveillance, financial assistance, and technical assistance, have developed to meet the changing needs of its member countries in an evolving world economy.
