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Essay text:
(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.
The IMP played a critical role to stabilize the exchange rate, prevent crisis, and resolution of crisis...
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