On December 27, 1945, 29 countries ratified the articles of the International Monetary Fund (IMF). Today, the IMF is “an organization of 188 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.”
 
The IMF was a product of the Bretton Woods Conference, held in Bretton Woods, New Hampshire, in 1944. The Bretton Woods Conference aimed to secure and regulate the global financial system following the devastation of World War II
 
The so-called Bretton Woods System regulated the world’s economies for decades. The IMF and its sister organization, the World Bank, established guidelines for activities such as international loans to developing nations and regulations to help balance trade.
cooperation
Noun

the act of working together.

devastation
Noun

ruin or destruction.

economic
Adjective

having to do with money.

employment
Noun

job or work.

establish
Verb

to form or officially organize.

facilitate
Verb

to help or make easier.

financial
Adjective

having to do with money.

foster
Verb

to promote the growth or development of something.

International Monetary Fund (IMF)
Noun
international economic organization whose mission is "to help ensure stability in the international system. It does so in three ways: keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and giving practical help to members."
monetary
Adjective

having to do with money or currency.

poverty
Noun

status of having very little money or material goods.

promote
Verb

to encourage or help.

ratify
Verb

to formally approve or confirm.

reduce
Verb

to lower or lessen.

regulate
Verb

to determine and administer a set of rules for an activity.

secure
Verb

to guarantee, or make safe and certain.

stability
Noun

balance or steadiness.

sustainable
Adjective

able to be continued at the same rate for a long period of time.

trade
Noun

buying, selling, or exchanging of goods and services.

World Bank
Noun

United Nations organization that loans money to poor and developing nations.

World War II
Noun

(1939-1945) armed conflict between the Allies (represented by the United States, the United Kingdom, and the Soviet Union) and the Axis (represented by Germany, Italy, and Japan.)