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International Financial System

Sometimes referred to as the global financial system, this is the collective name for the various official and legal arrangements that govern international financial flows in the form of loan investment, payments for goods and services, interest and profit remittances. The main elements are the surveillance and monitoring of economic and financial stability, and provision of multilateral finance to countries with balance of payments difficulties. The organization at the centre of the system is the International Monetary Fund (IMF), which has the mandate to ensure its effective running.

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