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The Articles of Agreement of the International Monetary Fund
The Articles of Agreement of the International Monetary Fund were
adopted at the United Nations Monetary and Financial Conference (Bretton
Woods, New Hampshire) on July 22, 1944. They were originally
accepted by 29 countries and since then have been signed and
ratified by a total of 189 Member countries. As the charter of the
organization, the Articles lay out the Fund's purposes, which
include the promotion of 'international monetary cooperation through
a permanent institution which provides the machinery for
consultation and collaboration on international monetary problems'.
The Articles also establish the mandate of the Organization and its
members' rights and obligations, its governance structure and roles
of its organs, and lays out various rules of operations including
those related to the conduct of its operations and transactions
regarding the Special Drawing Rights. The key functions of the IMF
are the surveillance of the international monetary system and the
monitoring of members' economic and financial policies, the
provision of Fund resources to member countries in need, and the
delivery of technical assistance and financial services. The
Articles are complemented by the By-laws of the Fund adopted by the
Board of Governors, themselves being supplemented by the Rules and
Regulations adopted by the Executive Board.
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