The IMF describes itself as "an organization of 185 countries (Montenegro beingthe 185th, as of January 18, 2007), working to foster global monetary cooperation,secure financial stability, facilitate international trade, promote high employmentand sustainable economic growth, and reduce poverty". With the exception of Taiwan (expelled in 1980), North Korea, Cuba (left in 1964), Andorra, Monaco,Liechtenstein, Tuvalu and Nauru, all UN member states participate directly in theIMF. Most are represented by other member states on a 24-member ExecutiveBoard but all member countries belong to the IMF's Board of Governors.
HISTORY:
The International Monetary Fund was formally created inJuly 1944 during the United Nations Monetary and Financial Conference. Therepresentatives of 44 governments met in the Mount Washington Hotel in the areaof Breton Woods, New Hampshire, United States of America, with the delegates tothe conference agreeing on a framework for international economiccooperation.[7] The IMF was formally organized on December 27, 1945, when thefirst 29 countries signed its Articles of Agreement. The statutory purposes of theIMF today are the same as when they were formulated in 1943 (see #Assistanceand reforms).
TODAY:
The IMF's influence in the global economy steadily increased as itaccumulated more members. The number of IMF member countries has more thanquadrupled from the 44 states involved in its establishment, reflecting in particular the attainment of political independence by many developing countries and morerecently the collapse of the Soviet bloc. The expansion of the IMF’s membership,together with the changes in the world economy, has required the IMF to adapt ina variety of ways to continue serving its purposes effectively.In 2008, faced with a shortfall in revenue, the International Monetary Fund'sexecutive board agreed to sell part of the IMF's gold reserves. On April 27, 2008,IMF Managing Director Dominique Strauss-Kahn welcomed the board's decisionApril 7, 2008 to propose a new framework for the fund, designed to close a projected $400 million budget deficit over the next few years. The budget proposalincludes sharp spending cuts of $100 million until 2011 that will include up to 380staff dismissals.At the 2009 G-20 London summit, it was decided that the IMF would requireadditional financial resources to meet prospective needs of its member countriesduring the ongoing global crisis. As part of that decision, the G-20 leaders pledged
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NBC Shows--Nation with Highest Technology, facing the Worst Wrath and Torment, Because of their Injustice to Weaker Nations There must be more to come. Watch and comment: http://www.youtube.com/watch?v=-KXrAR...
See, if the parents of the last ummah are trying to save their families from hellfire? http://www.youtube.com/watch?v=fyWx3e... ---NBC Shows--Nation with Highest Technology, facing the Worst Wrath and Torment, Because of their Injustice to Weaker Nations There must be more to come. Watch and comment: http://www.youtube.com/watch?v=-KXrAR...