The IMF is the International Monetary Fund. The IMF was established in 1944 together with the World Bank, and both had the main purpose of rebuilding Europe economically after World War II, and creating an economic balance between countries in a construction phase. The so-called Bretton Woods system was a set of rules and institutions initiated during a conference in Bretton Woods in the USA in July 1944. The Bretton Woods system established rules for commercial and financial consent and cooperation between the world's leading industrialized countries. The most important thing about the Bretton Woods system was to heal long-term or temporary deviations in the balance of payments between countries. But when the United States suspended the fixed exchange rate between dollars and gold, the system collapsed.
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