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The International Monetary Fund (IMF) is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement. It originally had 45 members. The IMF's stated goal was to stabilize exchange rates and assist the reconstruction of the world’s international payment system post-World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity and others such as surveillance of its members' economies and policies, the IMF works to improve the economies of its member countries. The IMF describes itself as “an organization of 188 countries (as of April 2012), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.” The organization's stated objectives are to promote international economic cooperation, international trade, employment, and exchange rate stability, including by making financial resources available to member countries to meet balance of payments needs. Its headquarters are in Washington, D.C.
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  • (China Daily)2017-08-18 09:23

    GOVT AND POLICIES Rail freight volume speeds up in July China's rail freight volumes recorded faster growth in July, the national railway operator said on Wednesday. The railways carried 246 million metric tons of cargo last month, up 17 percent year-on-year, up from 15.5-percent growth in June, acc...

  • (Xinhua)2017-08-16 09:01

    A worker monitors container operation at Zhoushan port in Ningbo, Zhejiang province. [Photo/China Daily]WASHINGTON - China's strong economic growth so far this year has paved way for policymakers to accelerate needed reforms and focus more on quality growth, the International Monetary Fund (IMF) sai...

  • By Wang Yanfei(chinadaily.com.cn)2017-08-15 22:55

    China is expected to see robust economic growth in the coming months, but needs to strengthen efforts to implement reforms to avoid risks piling up, the International Monetary Fund said on Tuesday.The IMF raised its forecast for China's average annual growth for 2018-2020 to 6.4 percent from 6.0 per...

  • (Xinhua)2017-08-14 14:18

    BEIJING - The Chinese currency strengthened against the US dollar for the fifth straight working day on Monday to its highest level since September last year. The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened 41 basis points to 6.6601 against the US dollar Monda...

  • (Xinhua)2017-08-11 10:51

    NEW YORK - The international financial system has become stable and global economy is tepidly recovering with China in the lead, after experiencing the world financial crisis which started ten years ago, experts have said. On Aug 9, 2007, generally considered as the start of the global financial cri...

  • (China Daily)2017-08-01 06:45

    BEIJING - Doomsayers about China's economy have been wrong in the past, and they are wrong again today, said prominent US economist and author Stephen Roach - who added that the country reported first half GDP growth of 6.9, exceeding the 6.7 percent rise in 2016, as well as beating the consensus of...

  • (Xinhua)2017-07-31 10:04

    A worker monitors container operation at Zhoushan port in Ningbo, Zhejiang province. [Photo/China Daily]BEIJING - Doomsayers on China's economy have been wrong in the past, and they are wrong again today. China reported 6.9 percent GDP growth for the first half of 2017, exceeded the 6.7 percent rise...

  • (Xinhua)2017-07-29 17:29

    BEIJING - Data on China's first half-year economic performance released recently have prompted international monetary heavy weights and financial watchdogs to revise up prospects for its economy. Analysts have attributed the country's sound economic development to its helmsman, the Chinese governmen...

  • (Xinhua)2017-07-29 14:09

    WASHINGTON - International Monetary Fund (IMF) said on Friday that the China's renminbi exchange rate is broadly consistent with fundamentals and desirable policies. "The renminbi, despite moving closer to the level consistent with overall assessment, remained broadly in line with fundamentals and...

  • (Xinhua)2017-07-28 13:16

    BEIJING — A 6.9-percent growth rate in the first half of this year shows once again that China remains the main stabilizer of the global economy. The Chinese economy has maintained steady and sound growth, according to latest figures released by the National Bureau of Statistics. International ins...

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