International Monetary Fund (IMF) 2
International Monetary Fund (IMF) 2 : The IMF is a one of three main institutions created by the Bretton Woods Agreement (1944), the other two being the World Bank or International Bank for Reconstruction and Development (IBRD), and the General Agreement on Tariffs and Trade (GATT), which was replaced by the World Trade Organization (WTO) in January 1995. The IMF was specifically created to act as a monitor of the world's currencies by helping to maintain an orderly system of payments between all countries. It also provides short-term financial lending to countries with balance of payments difficulties. As such, it can be viewed as a provider of temporary overdraft facilities to countries experiencing foreign exchange cash flow problems. When a country joins the IMF, it is assigned a quota in Special Drawing Rights (SDR's). This is the fund's unit of account. The quota allocation reflects the country's relative position in the world economy, determines its voting strength and the amount of foreign exchange it may withdraw from the fund, as well as the quantity of SDR's it will receive in periodic allocations
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