Central bankers and financial delegates have gathered in Washington, DC this week for the annual International Monetary Fund (IMF) and World Bank meetings, which conclude on Saturday.

Discussions this week have focused on global economic headwinds, as the IMF warns of signs of distress following US trade tariffs and protectionism .

The IMF is widely seen as a “lender of last resort”, only stepping in when countries face severe financial crises and cannot access usual borrowing channels. Its loans, however, often come with strict conditions which can result in austerity measures and deepen social and economic hardships, making the loans a double-edged sword.

What is the IMF and how does it fund itself?

Founded in 1944 during World War II at the Bretton Woods Conference in New Hampshir

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