• To remove short term deficit in Balance of Payment (BOP).
• To maintain the stability in Exchange rate system and also focusing on policies that impacts the exchange rate.

• Headquarter: Washington, D.C., United States
• Members: 185 nations (Initially), 187 nations (To date)
• Financial year of IMF: 1^st May – 30^th April
• Head of IMF: Christine Lagarde (Former Finance minister of France), Managing Director
• Election: Head of IMF is elected for 5 years, but can be removed earlier if situation arises.
• Quotas & Voting ranking: India occupies 9^th place in IMF general quotas, where USA in 1^st, Japan in 2^nd, Germany in 3^rd place.
• SDR (Special Drawing Rights): It is also known as Paper gold and it is created in 1971 by IMF.
• Last member of IMF: Tuvalu
• Cuba left IMF in 1964.