IMF

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Organization Timeline

Allied governments design the Bretton Woods financial order

📅 22 July 1944

Delegates from 44 Allied nations agreed to establish the International Monetary Fund and World Bank at Bretton Woods. The institutions aimed to shape postwar exchange and reconstruction, but voting...

China resumes membership in the IMF and World Bank

📅 15 May 1980

Membership restored access to international financial institutions and development expertise after the People’s Republic had been excluded from their systems. Engagement was selective: Beijing...

China accepts current-account convertibility under IMF rules

📅 1 December 1996

The move facilitated current international payments without opening the capital account. It advanced trade integration while preserving tools to manage cross-border finance and protect policy...

Asian financial crisis tests China’s exchange-rate policy

📅 2 July 1997

After Thailand floated the baht, regional financial systems came under pressure. China maintained currency stability rather than devaluing, seeking to avoid a regional spiral and revealing the unequal...

IMF approves renminbi inclusion in SDR basket

📅 30 November 2015

The IMF decided that the renminbi would join the Special Drawing Rights basket from October 2016. The move marked international recognition of China’s trade and financial weight, while also reflecting...