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The International Monetary Fund (IMF), headquartered in Washington, DC, is of 189 member countries. The IMF works to foster global growth and economic stability by providing policy, advice, and financing to its members. It also works with developing nations to help them reduce poverty and achieve macroeconomic . It now plays a central role in the management of balance-of-payments difficulties and international financial crises. When the IMF was founded, its primary functions were to provide short-term capital to the balance of payments and to oversee fixed-exchange-rate arrangements between countries, thus helping national governments manage their exchange rates and prioritize economic growth. This was meant to prevent the spread of international economic crises. The IMF mission changed slightly after 1971, and floating currency exchange rates made it harder to predict the economic stability of a region. Today the IMF plays an active role in and managing economic policy around the world.