International Monetary Fund
a.k.a. IMF
An international organisation that watches the global economy and lends to countries in financial…
In plain English
An international organisation that watches the global economy and lends to countries in financial trouble, with conditions attached.
The IMF was created at Bretton Woods in 1944 and is based in Washington. Nearly every country is a member.
It publishes closely watched growth forecasts and lends to countries in crisis, usually in exchange for reforms such as budget cuts or currency changes. An IMF deal can steady a collapsing currency, or come with a sharp devaluation attached.
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