The International Monetary Fund (IMF) is an international organization of 189 member countries established in 1944. It works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty. The IMF oversees member countries' economies, lends to countries with balance of payment issues, and offers technical assistance. It has different types of loans with varying interest rates and durations. The IMF is governed by a Board of Governors and Executive Board and headed by a Managing Director.