The current global crisis is a manifestation of global imbalance. Higher creation of savings in emerging economies compared to developed countries; higher investments of developed economies in comparison with developing countries; the current account deficit of the balance of payments in...

The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the international monetary system is to facilitate the exchange of goods, services, and...