The International Monetary Fund (IMF) was formed during 1944 at the Bretton Woods conference, but formally started its activities during 1945 with 29 member countries. IMF’s mandate include strengthening the economic stability among its member countries by lending to countries experiencing Balance of Payments problems. IMF also surveillances the economic conditions of its member countries by gathering statistical data to help identify the weak areas in the economic sector and helping the members overcome those. They also provide financial assistance during any type of crisis that may arise in member countries. Maldives officially joined the IMF on 13th January 1978 and has since been receiving assistance from IMF. One notable assistance was during the recent Tsunami in 2004, where IMF provided financial assistance to the Maldives.
Website link: https://www.imf.org