However, the concept of fundamental disequilibrium, though key to the operation of the par value system, was never defined in detail.
2.
He said he saw no " fundamental disequilibrium " in currency markets, and agreed exports may increase slightly in the coming year.
3.
The formal definition of fundamental disequilibrium was never determined, leading to uncertainty of approvals and attempts to repeatedly devalue by less than 10 % instead.
4.
Member countries could only change their par value by more than 10 % with IMF approval, which was contingent on IMF determination that its balance of payments was in a " fundamental disequilibrium ".
5.
The countries that joined the IMF between 1945 and 1971 agreed to keep their exchange rates secured at rates that could be adjusted only to correct a " fundamental disequilibrium " in the balance of payments, and only with the IMF's agreement.
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