The mission of the IMF is to promote global economic growth and financial stability, encourage international trade and reduce poverty around the world.
The IMF was originally created in 1945 under the Bretton Woods Agreement, which sought to encourage international financial cooperation by introducing a system of convertible currencies at fixed exchange rates.
The IMF collects vast amounts of data on the national economy, international trade and the world economy together and provides economic forecasts.
One of the most important functions of the IMF is to provide loans to countries experiencing economic difficulties to prevent or mitigate the effects of financial crises.