What was the initial goal of the International Monetary Fund (IMF)?

The initial goal of the International Monetary Fund (IMF) was to restore stability to the international payment system following the disruptions caused by the Great Depression and the Second World War. This included creating a framework for international monetary cooperation, which aimed to foster economic stability and prevent the competitive devaluation of currencies. The establishment of the IMF in 1944 was crucial for stabilizing foreign exchange rates and facilitating balanced growth in international trade. By ensuring that countries could manage their payments and maintain stable exchange rates, the IMF aimed to prevent the economic imbalances and protectionist policies that had characterized the interwar period.

In this context, the other options, while related to the IMF's broader functions, do not capture the original mandate as directly. Monitoring international exchange rates is part of the IMF's role but developed from its core mission. Providing loans without conditions does not align with the Fund's principles, as it typically imposes conditions to ensure economic stability. Facilitating global trade agreements is more associated with organizations like the World Trade Organization (WTO) rather than the IMF.