- Fixation of exchange rates: In the matles of fixation of exchange rates, initially and subsequently, the fund allowed a weak and passive policy. It had not tried to determine the correct exchange rates at least in respect of important currencies.
- Free convertibility of currencies: One of the aims of the fund is to bring about a system of free convertibility of currencies. But, so far, the fund has not succeeded in achieving this objective.
- Gold Policy: The articles of the fund require that no member should buy or sell gold at prices other than the par value of its currency. But this provision was ignored by the gold producing countries, and the fund could not do anything in this respect.
- Regulation of scarce currencies: As per the articles, the fund could declare a currency scarce, when its holding of that currency are not sufficient to meet the demand for it. The scarcity of the U.S. dollars was felt all over the world.
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