The International Monetary Fund (IMF) laid down rules for settling balance-of-payments deficits between nations.

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The International Monetary Fund (IMF) was established to provide a framework for international economic cooperation and to prevent the kinds of competitive devaluations and protectionist policies that contributed to the Great Depression. Part of its role includes offering financial assistance and support to countries with balance-of-payments problems, thereby facilitating the settlement of these deficits among nations.

The International Monetary Fund (IMF) Laid Down Rules for Settling