The International Monetary Fund is an international organization that was conceived, originally with 45 members and came into existence when 29 countries signed the agreement, with a goal to stabilize exchange rates and assist the reconstruction of the world’s international payment system. Countries contributed to a pool which could be borrowed from, on a temporary basis, by countries with payment imbalances. The IMF works to improve the economies of its member countries. Describes itself as an organization of 187 countries, 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 resources available to member countries to meet balance of payments needs.All member states participate directly in the IMF. Member states are represented on a executive board, and all members appoint a governor to the IMF's board of governors.The powers of the other countries within the organization are represented on a proportional scale to their population and economic rank in the world.The number of IMF member countries has more than quadrupled from the 44 states involved in its establishment, reflecting in particular the attainment of political independence by many developing countries and more recently the dissolution in 1991 of the Soviet Union. The expansion of the IMF’s membership.