The IMF's primary objective is to promote international monetary cooperation, exchange rate stability, and orderly exchange arrangements, as well as to provide financial assistance to member countries in need.

The World Bank's mission is to provide financial and technical assistance to developing countries to promote economic growth and reduce poverty.

The WTO is responsible for regulating international trade by setting rules and adjudicating disputes between member countries.

In a fixed exchange rate regime, the value of a country's currency is pegged to a single foreign currency, such as the US dollar or the euro.

In a floating exchange rate regime, the value of a country's currency is determined by supply and demand in the foreign exchange market.

In a managed exchange rate regime, the central bank intervenes in the foreign exchange market to influence the value of its currency, typically by buying or selling foreign currency.

In an adjustable peg exchange rate regime, a country's currency is pegged to a basket of foreign currencies, but the central bank can adjust the peg periodically.

The current account of the balance of payments records the value of goods and services imported and exported by a country, as well as net income from abroad and net current transfers.

The financial account of the balance of payments records the value of financial assets and liabilities acquired or disposed of by residents of a country, including direct investment, portfolio investment, and other investment.

The reserve account of the balance of payments records the value of official reserve assets held by a country's central bank, including gold, foreign exchange, and special drawing rights (SDRs).

The overall balance of a country's balance of payments is the sum of the current account balance, the capital account balance, and the financial account balance.

A trade surplus occurs when a country's exports exceed its imports, resulting in a positive net export balance.

A trade deficit occurs when a country's imports exceed its exports, resulting in a negative net export balance.

The terms of trade are calculated by dividing a country's export price index by its import price index, and they measure the relative prices of a country's exports and imports.

Currency overvaluation occurs when a country's currency is valued higher than its true economic value, making its exports more expensive and its imports cheaper.