Article VI, Section 3, recognizes the right of members to exercise such controls as are necessary to regulate international capital movements.. This asymmetry reflects a number of historical factors, including the overriding emphasis on international trade in goods and services that existed when the Fund was established and, conversely, the negative perception of capital flows that prevailed at that time, based on the belief that speculative capital movements had contributed to the instability of the prewar system and needed to be controlled.
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In particular, capital controls should be adapted or reversed as destabilizing pressures abate.