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The IMF did not initially focus on less developed economies but on stabilizing international currency exchange.
False: The International Monetary Fund (IMF)'s initial focus was not on less developed economies, but on stabilizing international currency exchange.
In 2012, the IMF's mandate was modified to include economic and financial issues related to global stability.
Corrected Statement: The IMF's initial goal was to stabilize international currency exchange before its mandate was expanded to address broader economic and financial issues globally.
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