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What Role Does The Imf Play In The World Economy? What Are The Main Costs And Benefits Of Imf Adjustment Policies?
Essay specific features
Written by:
Gary R
Date added:
October 20, 2015
Level:
University
Grade:
B
No of pages / words:
7 / 1940
Was viewed:
9757 times
Rating of current essay:
Essay content:
(IMF2006)
“The IMF was conceived in July 1944, when representatives of 45 governments meeting in the town of Bretton Woods, New Hampshire, in the northeastern United States, agreed on a framework for international economic cooperation.” (IMF 2006) In this meeting, a charter of an international institution was drafted to oversee the international monetary system and to promote both the elimination of exchange restrictions relating to trade in goods and services, and the stability of exchange rates...
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The exchange rates pegged at rate means that the value of countries’ currencies in terms of the U.S. dollar and, in the case of the United States, the value of the U.S. dollar in terms of gold. This is called Bretton Woods system. That system prevailed until 1971, when the US government suspended the convertibility of the US dollar into gold...
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