Last Updated:

2024-02-10 10:34:04

International Monetary Fund

Global financial institution under United Nations

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Global financial institution under United Nations

The International Monetary Fund (IMF) is a key financial agency of the United Nations, providing financial stability, promoting economic growth, and reducing poverty worldwide. Established in 1944, it assists member countries facing balance of payments issues through quotas and loans, with a total fund of around US$667 billion. The IMF also conducts economic analysis and surveillance to support its mission.

Bank for International Settlements World Bank Public Investment Fund Global Financial Crisis John Maynard Keynes European Debt Crisis Asian Financial Crisis Christine Lagarde European Central Bank The Economist Group

1944-07-01

International Monetary Fund (IMF) Establishment

The International Monetary Fund (IMF) was established on July 1, 1944, to promote international monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

1945-05-08

VE Day

VE Day, which occurred on May 8, 1945, marked the end of World War II in Europe and had significant implications for the post-war economic and financial landscape that influenced the IMF's role.

1945-12-27

Ratification of Articles of Agreement

After being ratified by 29 countries, the Articles of Agreement entered into force on December 27, 1945. This marked a significant milestone in the establishment of the IMF.

1946-05

IMF Headquarters Established in Washington, D.C.

In May 1946, the 12 original executive directors of the IMF first met in Washington, D.C., marking the establishment of the organization's permanent headquarters in the United States.

1947-03-01

IMF Lending Program

The IMF provides financial assistance to member countries facing balance of payments problems, helping them stabilize their economies and restore sustainable growth.

1948-06

Berlin Blockade

The Berlin Blockade in June 1948 was a pivotal event during the early years of the Cold War, impacting international economic relations and the IMF's efforts to achieve sustainable growth and prosperity.

1956-10

Suez Crisis

The Suez Crisis in October 1956 had significant economic and geopolitical implications, influencing the IMF's role in global economic stability and international monetary cooperation.

1961-01-01

IMF Capacity Development

IMF's capacity development activities aim to help member countries strengthen their economic institutions and build the necessary skills to design and implement effective economic policies.

1961

New Zealand joins the International Monetary Fund

In 1961, New Zealand became a member of the International Monetary Fund, enhancing its participation in global economic cooperation and financial stability.

1965-07-05

Establishment of IMF Europe Office in Paris and Brussels

The International Monetary Fund (IMF) established its Europe Office in Paris and Brussels on July 5, 1965, to oversee its operations and initiatives in the European region.

1969

Introduction of Special Drawing Rights (SDR)

Special Drawing Rights (SDRs) were introduced in 1969 by the IMF as an international type of monetary reserve currency to supplement the existing money reserves of member countries.

1971-08-15

End of the Bretton Woods System

On August 15, 1971, US President Richard Nixon suspended dollar convertibility, effectively marking the end of the Bretton Woods system of fixed exchange rates.

1978-01-01

IMF Surveillance

IMF surveillance involves the monitoring of economic and financial developments, as well as the provision of policy advice, aimed at crisis prevention and the promotion of sound economic policies.

1979

IMF's Response to Oil Shocks

The IMF responded to the oil shocks in 1979, playing a crucial role in encouraging international monetary cooperation and addressing the impact of the shocks on global economic stability.

1999-06

Currency Composition of Official Foreign Exchange Reserves

The Currency Composition of Official Foreign Exchange Reserves is a report published monthly by the International Monetary Fund, providing data on the currency composition of official foreign exchange reserves.

2009

From Great Depression to Great Recession: The Elusive Quest for International Policy Cooperation

This event explores the challenges and endeavors in achieving international policy cooperation, drawing parallels between the Great Depression and the Great Recession.

2011-06

Appointment of Christine Lagarde as Managing Director

In June 2011, Christine Lagarde of France was appointed as the first female managing director of the IMF, marking a significant milestone in the history of the organization.

2014

Dollars, Debt, and Deficits—60 Years After Bretton Woods

This event examines the economic aspects 60 years after the Bretton Woods agreement, focusing on dollars, debt, and deficits.

2019-06

Finance & Development: June 2019: The IMF at 75

An issue of Finance & Development magazine published in June 2019, focusing on the 75th anniversary of the International Monetary Fund and its impact on global finance and development.

2019-09-29

Appointment as Managing Director of the International Monetary Fund

Kristalina Georgieva was named the next managing director of the International Monetary Fund, becoming the first person from an emerging country to hold this office.

2020

International Monetary Fund Annual Report 2020

The annual report of the International Monetary Fund for the year 2020, providing an overview of the organization's activities, financial status, and future plans.

2021-10

Investigations into Manipulation of Doing Business Report

The International Monetary Fund's executive board initiated an investigation into allegations that Kristalina Georgieva manipulated the Doing Business Report in 2018 during her tenure as World Bank chief.

2022

World Economic Outlook

The World Economic Outlook is a publication by the IMF providing analysis and forecasts of economic developments globally.

2023

Marrakech 2023

The IMF is planning to hold a significant event in Marrakech in 2023, which will likely focus on key global economic and financial issues.

2024-01-30

IMF's Warning Against Tax Cuts in Britain

An IMF economist has warned Britain's Conservative government against tax cuts, indicating a potential economic concern. This has sparked discussions about the economic policies in Britain.

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International Monetary Fund