As Thailand prepares to host the 2026 Annual Meetings, here’s a guide to the IMF’s role, structure and priorities ahead of October’s gathering.
As Thailand counts down to October’s IMF-World Bank Group Annual Meetings, this feature, part of our “Road to IMF-World Bank Annual Meeting 2026” series, looks at what the International Monetary Fund actually does, how it is run, and what is on its agenda as it heads to Bangkok.
Born from the ashes of the Great Depression
The IMF was established in 1945 following the Bretton Woods Conference, where 44 nations came together in the aftermath of the Second World War to build a framework for economic cooperation and avoid repeating the mistakes that deepened the Great Depression. Eight decades on, its membership has grown to 191 countries, covering nearly the entire global community.
A health centre for the world economy
The IMF often describes its work using the metaphor of a holistic health centre, built around three core functions. As a family doctor, it conducts “annual check-ups” on every member country, known as Article IV consultations, monitoring economic vital signs and offering policy advice to maintain stability.
As an emergency room, it acts as a lender of last resort, providing financial support to countries facing balance-of-payments crises when other funding sources dry up. And as a gym, it offers training and technical assistance through regional centres, including one based in Bangkok, to help countries strengthen their economic institutions and statistical systems.