International monetary fund - sustany/dvg GitHub Wiki

International Monetary Fund (IMF) was concieved in July 1994 in Bretton Woods, New Hampshire and entered into force on March 1, 1947.� IMF was established in order to promote international monetary cooporation, facilitate expansion and balanced growth in international trade and maintain exchange arrangement among its members.� The IMF established a Par Value where countries that joined agreed to keep their exchange ratein terms of U.S. dollar, and the value of dollar in terms of gold. This par value system�also known as the Bretton Woods system�prevailed until 1971, when the U.S. government suspended the convertibility of the dollar (and dollar reserves held by other governments) into gold.