The International Monetary Fund (IMF) just hired Harvard University's Gita Gopinath as its new chief economist. She will be the first woman to lead its economic research department so we figured it's high-time you know what the IMF even does.
It was created back in 1944 and is made up of 189 member nations. Its primary mission is to ensure the stability of the international monetary system, so it monitors exchange rates and international payments and fosters financial stability.
It's currently lead by Christine Lagarde and more recently is trying to refocus its efforts on things like role of women in the workforce and inequality, money laundering and climate change.
It's funded by subscription fees from its member countries -- and no surprise the U.S. is at the top of the list.
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