Explanation

• The formation of the IMF was initiated in 1944 at the Bretton Woods Conference.
• The IMF officially began operating on March 1, 1947, when the first 29 countries signed its Articles of Agreement.
• Headquartered in Washington, D.C.,
• IMF focuses on fostering global monetary cooperation, securing financial stability, facilitating and promoting international trade, employment, and economic growth around the world.
• The IMF is a specialized agency of the United Nations.
• The IMF became operational on 27th December 1945 with 29 member countries that agreed to bound to this treaty.
• It began its financial operations on 1st March 1947.