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The Developments in the International monetary system dates back to commodity standard. when metallic coins were used for International Transaction. This was followed by gold standard that provided not only domestic price stability but also automatic adjustment in the exchange rates and the balance of payment.

Objectives: To Promote international monetary cooperation and collaboration

To Facilitate the expansion and balance growth of International trade.

To promote exchange stability

To Develop multilateral trade & payment

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Q: IMF and role in imternational business?
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