History about the International Monetary Fund
The works of rebuilding national economies stats as the Second World War ends. The IMF oversees the international monetary system to ensure exchange rate stability and all members to eliminate barriers to trade foreign exchange restrictions.
When 1930s years in the 20th century, the Great Depression, countries try to support their failing economies. They use the national currency depreciated by the competition for each other export markets, substantial increase in foreign trade barriers, cut their civil liberties to hold foreign exchange. These try to prove self-defeating. Sharp decline in the world trade (see chart below), employment and falling living standards, many countries.
This rupture in the international monetary cooperation causes the founder of the IMF program and the international monetary system oversight bodies. This is the system of the exchange rate, but also allows their country and their citizens buy goods and services each year by using the international payment system. The new global entity will ensure exchange rate stability, and to encourage its members to eliminate barriers to trade in the exchange restrictions.
The Bretton Woods agreement 布雷顿森林协定
The IMF was conceived in July 1944, when the northeastern United States on behalf of 45 countries in Bretton Woods, New Hampshire, the city attended the meeting, agreed on the framework of international economic cooperation, after World War II established. In their view, such a framework is necessary to avoid in this area led to the disastrous economic policies of the Great Depression repeat.
When its first 29 member countries signed its Articles of Agreement, the IMF came into formal existence in December 1945. It began on March 1, 1947 operation. In the same year, France became the first country from the International Monetary Fund loans. Member of the International Monetary Fund began to expand in the late 20th century, 50 and 60 years, many African countries after independence, in order to apply to join. However, the Cold War limited the Soviet sphere of influence in the absence of a member to join the Fund, in most countries.(责任编辑：BUG)