The English abbreviation for the International Monetary Fund (IMF) is IMF. It was established on December 27, 1945, in Washington, D.C., based on the International Monetary Fund Agreement signed during the Bretton Woods Conference in July 1944. On October 1, 2015, China reported its foreign exchange reserves to the International Monetary Fund for the first time.
The history of the IMF dates back to 1944 when the United Nations-sponsored Financial and Monetary Conference took place in Bretton Woods, New Hampshire, USA. On July 22, 1944, the agreement to establish the International Monetary Fund was signed at this conference. The IMF's principal architects were John Maynard Keynes, a member of the Fabian Society, and Harry Dexter White, then the U.S. Assistant Secretary of the Treasury.
The terms of the agreement were put into effect on December 27, 1945. The IMF was formally established in May 1946 as part of the post-World War II reconstruction plan. The IMF officially began its operations on March 1, 1947.
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