<P> The International Monetary Fund ( IMF ) is an international organization headquartered in Washington , D.C. , of `` 189 countries working to foster global monetary cooperation , secure financial stability , facilitate international trade , promote high employment and sustainable economic growth , and reduce poverty around the world . '' Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes , it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system . It now plays a central role in the management of balance of payments difficulties and international financial crises . Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money . As of 2016 , the fund had SDR 477 billion ( about $668 billion ) . </P>
what are the roles of international monetary fund
foster global monetary cooperation secure financial stability facilitate international trade promote high employment and sustainable economic growth reduce poverty around the world