What does "IMF" stand for?

IMF stands for the International Monetary Fund, which is a global organization that promotes stability in global monetary and exchange conditions. The organization also aims to facilitate the growth of balanced international trade and the establishment of multilateral payment systems for global and current transactions.

The organization formed in Dec. 27, 1945, following its initial conception during the Bretton Woods Conference in 1944. Financial operations began with 29 member countries on March 1, 1947. As of 2014, 188 countries serve as active members of the International Monetary Fund. The organization operates using six official languages with its headquarters in Washington, D.C.