ABSTRACT
Leadership: James D.Wolfensohn (Pres. and Chair. of Exec. Board); David de Ferranti (Vice-Pres., Latin America and the Caribbean Regional Office)
Address: 1818 H St NW, Washington, DC 20433, USA Telephone: (202) 477-1234 Fax: (202) 477-6391 E-mail: pic@worldbank.org Internet: https://www.worldbank.org/
The IMF was founded in 1945 to promote international monetary co-operation by maintaining a stable system of exchange rates. Its working capital comes from the member states according to quotas fixed broadly in proportion to the size of their economies. They may call on those funds, within certain limits, in order to stabilize their currencies, or request additional funds if required. The Board of Governors consists of one representative and one alternate from each member state. The USA, the United Kingdom, Germany, France and Japan appoint one Executive Director each; the remaining member states elect one each from the People’s Republic of China, Russia and Saudi Arabia and 17 others from the other states according to groups.
