The IMF monitors economic and financial developments, aims to prevent crises, lends to countries with payment difficulties, provides temporary financing and makes loans to low-income countries to reduce poverty. It also provides countries with technical assistance and training.

The IMF also plays a role in the fight against money-laundering and terrorism.

The board of governors is the highest decision-making body of the IMF. It consists of one governor and one alternate governor for each of the 185 member countries. The governors are appointed by the member countries and are usually the ministers of finance or the heads of the central banks.

Source: IMF.org