About IMF

• The International Monetary Fund was conceived in 1944 at the United Nations Bretton Woods Conference in New Hampshire, United States.
• The IMF and the World Bank are called Bretton Woods twins.
• The IMF is a permanent observer at the UN. 
• It is an organization of 190 countries. India is a founder member of the IMF.
• The mandate of the IMF as follows:
  • To promote international monetary cooperation;
  • To facilitate the expansion and balanced growth of international trade;
  • To promote exchange stability;
  • To assist member countries in correcting maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity; 
  • To assist in the elimination of foreign exchange restrictions which hamper the growth of world trade.

Why in News?

• The International Monetary Fund (IMF) has said that it is satisfied with the basic financial reform initiatives taken by the government of Bangladesh and its central bank to offset the current situation in the country. 
• The IMF has agreed to provide Bangladesh a loan of USD 4.5 billion and support for the proposed financial reform initiatives of the government. 

https://newsonair.gov.in/News?title=IMF-satisfied-with-financial-reform-initiatives-of-Bangladesh&id=454100