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It is a mutual establishment with voluntarily membership that enables its members to benefit from consultations with each other. This provides a stable environment for exchanging payments smoothly and quickly. Thus, the IMF greatly increases international trade, which, in effect, expands the world economy.
How does this system work? Established by the United Nations at a conference held in 1944 at Bretton Woods, New Hampshire, the IMF seeks monetary stability. At that time, because of all the recessions and the Great depression, people all over the world were demanding gold, instead of the national currency, beyond what national treasuries could supply...
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