IMF in History

Historical Events

Conference of Interest

1944-07-01 Bretton Woods Conference starts, dominated by Harry Dexter White and John Maynard Keynes and leads to establishment of the IMF and the World Bank

  • 1944-07-23 Conference of Bretton Woods signed; IMF operations begin
  • 1955-10-01 Piet Lieftinck becomes director v/h IMF (World bank)
  • 1964-11-08 IMF grants Great Britain credit of $1 billion
  • 1973-08-01 H J Witteveen appointed as director of IMF
  • 1974-06-13 IMF establishes its "oil facility", a special fund for loans to nations whose balance of payments have been severely affected by high oil prices
  • 1982-11-10 IMF lends Mexico $3.8 billion due to threatened bankruptcy

Historic Event

1986-06-27 Ibrahim Babangida's regime in Nigeria launches the 'Structural Adjustment Program" to restructure the Nigerian economy via deregulation and privatization with the support of the IMF and the World Bank

  • 2000-09-26 Anti-globalization protests in Prague (some 20,000 protesters) turned violent during the IMF and World Bank summits.
  • 2005-12-15 Argentina's president Néstor Kirchner announces the early repayment of its external debt to the IMF.
  • 2008-10-24 Iceland receives a £1.3 billion bailout package from the International Monetary Fund (IMF), 1st European country to require an emergency loan as a result of the financial crisis

Election of Interest

2011-06-28 Christine Lagarde becomes the 1st women to be elected head of the International Monetary Fund (IMF)

  • 2013-03-28 Banks in Cyprus re-open after having been closed for two weeks; the government agrees a 10 billion euro bailout deal with the EU and IMF
  • 2014-02-23 A pro-Euromaidan rally is held in Simferopol, Ukraine, while in Kerch, protesters attempt to replace the Ukrainian flag from city hall with a Russian flag
  • 2014-05-27 The director of the International Monetary Fund (IMF) Christine Lagarde calls for "tougher regulation and tighter supervision" of banking sector
  • 2018-05-09 Argentina announces talks with the IMF amid a new financial crisis with interest rates at 40%
  • 2018-06-08 IMF agrees to lend Argentina up to 50 billion dollars
  • 2018-06-25 General Strike in Argentina in response to austerity measures required by an IMF loan
  • 2019-09-25 Bulgarian economist Kristalina Georgieva named as the new head of the IMF
  • 2020-04-14 IMF warns the global economy expected to contract by 3% in 2020 due to COVID-19 "Great Lockdown", steepest downturn since the Great Depression

Famous Birthdays

  • 1921-06-12 Hendrik Witteveen, Dutch economist, Minister of Finance (1963–65; 1967–71), born in Zeist, Netherlands

Robert MuldoonRobert Muldoon (1921-1992)

1921-09-25 New Zealand politician (Prime Minister, 1975-1984), born in Auckland

  • 1953-08-13 Kristalina Georgieva, Bulgarian economist, Head of the IMF (2019-), born in Sofia, Bulgaria

Christine LagardeChristine Lagarde (66 years old)

1956-01-01 French lawyer and politician, 1st female head of the IMF, born in Paris

Famous Deaths

Robert MuldoonRobert Muldoon (1921-1992)

1992-08-05 New Zealand politician (Prime Minister, 1975-1984), dies at 70

  • 1994-01-02 Pierre-Paul Schweitzer, French director of IMF (1963-73), dies at 81