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International Monetary Fund Intro: In July 1944, the United Nations Monetary and Financial Conference met in Bretton Woods, New Hampshire, to find a way to rebuild and stabilize the world economy that had been severely devastated by World War II. One result of the conference was the founding of the International Monetary Fund (IMF) through the signing of its Articles of Agreement by 29 countries. The stated purposes of the IMF were to create international monetary cooperation, to stabilize currency exchange rates, to facilitate the expansion and balanced growth of international trade, and to make the IMF's general resources temporarily available to its members experiencing balance of payments difficulties under adequate safeguards. There were 143 member nations in the IMF in the early 1980's. Most of the Communist countries, including the Soviet Union, did not join; and, of the Western nations, Switzerland has not participated (Compton's Interactive Encyclopedia, 1996). However, there are now...

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