Final answer:
The International Monetary Fund (IMF) is an international organization that provides financial support and advice to member countries facing severe economic difficulties, with the aim of promoting global monetary stability.
Step-by-step explanation:
The International Monetary Fund (IMF) is an intergovernmental organization that plays a crucial role in the global monetary system. Formed in 1944 at the Bretton Woods Conference, its primary purpose was to ensure international economic stability and assist in the reconstruction of post-World War II Europe. Today, the IMF acts as a lender of last resort to member countries experiencing severe financial difficulties. It provides financial assistance and policy advice to help stabilize economies. The support it offers is often contingent on the implementation of economic reforms, which may include measures like privatization and debt repayment. The IMF's influence extends globally, with its decisions affecting the economic policies of its member states.