As the Second World War ended, most countries found that international values faced many restrictions and were not smooth. Leaders of many countries thought over these matters and discussed them in meetings and agreed on the Bretton Woods system. Thus, after the Second World War, many countries felt the need to have an organization to get help in monetary matters between countries. To begin with, 29 countries discussed the matter, and signed an agreement. The agreement was the Articles of Association of the International Monetary Fund. The International Monetary Fund came into being in 29th December 1945.