Question
Describe the objectives and functions of IMF.
Answer :
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the objectives of IMF
(i) The elimination or reduction of existing exchange controls,
(ii) The establishment and maintenance of currency convertibility with stable exchange rates, and
(iii) The widest extension of multi-lateral trade and payments.
In essence the Fund is an attempt to achieve the external or international advantages of gold standard system without subjecting nations to its internal disadvantages, and at the same time maintaining the internal advantages of paper standard while
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