The International Monetary Fund (IMF) was created in 1944 with the goal of stabilizing exchange rates and assisting in reconstructing the global payment system. It currently has 186 member countries and works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote employment and economic growth, and reduce poverty. The IMF provides loans to countries experiencing foreign exchange crises and engages in economic consultation. While it aims to safeguard global monetary stability, some criticize it for having a "one-size-fits-all" approach and not adequately considering the impact of its policies on poverty.