international monetary fund means: This organization was founded in 1944 and is responsible for overseeing exchange arrangements between member countries. It also lends foreign currency reserves to members who have short-term balances of payments problems. (in Stock Market Dictionary)
What else does international monetary fund mean?
- International Monetary Fund IMF was established in July 1994 at Bretton Woods in New Hampshire. It entered force March 1, 1947. The IMF was created to encourage international monetary cooperation, promote expansion and balance growth in international trade, and keep exchange arrangements among its members. A Par Value was established by the IMF. This meant that countries who joined agreed to maintain their currency in dollars and keep dollar value in gold. The Bretton Woods System, also known as this par value system, was in place until 1971 when the U.S. stopped allowing the conversion of dollar and dollars reserves owned by other countries into gold. (in Legal Dictionary)