International Monetary Fund (IMF)

Purpose

Promote global monetary cooperation, financial stability, and sustainable economic growth, and provide financial assistance to member countries facing balance-of-payments problems.

Members:

191 member states

Headquarters:

Washington, D.C., United States

History

The IMF was created at the Bretton Woods Conference in July 1944, alongside the World Bank, to help rebuild the international monetary system after the Great Depression and the Second World War.

Structure

• Board of Governors
• Executive Board
• Headed by the Managing Director

Key facts

• Pakistan has entered more than 20 IMF programmes since joining, more than almost any other country, most recently a $7 billion Extended Fund Facility agreed in 2024
• Voting power is weighted by each country's financial contribution (quota)
• Current Managing Director: Kristalina Georgieva (Bulgaria), since 2019

Pakistan's relationship

Member since 1950; has entered more than 20 IMF lending programmes, reflecting recurring balance-of-payments crises.