The International Monetary Fund (IMF) is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement. It originally had 45 members. The IMF's stated goal was to stabilize exchange rates and assist the reconstruction of the world’s international payment system post World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds on a temporary basis. Through this activity and others such as surveillance of its members' economies and policies, the IMF works to improve the economies of its member countries. The IMF describes itself as “an organization of 188 countries (as of April 2012), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.” The organization's stated objectives are to promote international economic cooperation, international trade, employment, and exchange rate stability, including by making financial resources available to member countries to meet balance of payments needs. Its headquarters are in Washington, D.C.

Christine Madeleine Odette Lagarde (née Lallouette; born 1 January 1956) is a French lawyer who has been the Managing Director of the International Monetary Fund since 5 July 2011. Previously, she held various ministerial posts in the French government: she was Minister of Economic Affairs, Finances and Industry and before that Minister of Agriculture and Fishing and Minister of Trade in the government of Dominique de Villepin. Lagarde was the first woman ever to become Minister of Economic Affairs of a G8 economy, and is the first woman to ever head the IMF.

A noted antitrust and labour lawyer, Lagarde made history by becoming the first female chair of the international law firm Baker & McKenzie. On 16 November 2009, the Financial Times ranked her the best Minister of Finance in the Eurozone.

On 28 June 2011, she was named as the next MD of the International Monetary Fund for a five-year term, starting on 5 July 2011, replacing Dominique Strauss-Kahn. Her appointment is the 11th consecutive appointment of a European as head the IMF. In 2011, Lagarde was ranked the 9th most powerful woman in the world by Forbes magazine.