Mozambican metical 24,500 meticais per USD, until the Zimbabwean dollar took the title in late August 2005. On July 1, 2006, Mozambique redenominated the metical at a rate of 1000:1. The new ISO 4217 code is MZN. New coins and banknotes were introduced on July 1, 2006, and the transitional period during which both old and new meticais could be used lasted until December 31, 2006. During the conversion, the new currency was locally abbreviated as MTn, but has since largely returned to MT. Old meticais were redeemed by the Bank of Mozambique for a period of six years, until December 31,
South Korea and the International Monetary Fund South Korea and the International Monetary Fund South Korea has grown to become the 14th largest economy of the world and has joined financial institutions of the world as the country grew. From joining the International Monetary Fund (IMF), South Korea was able to solve its financial crisis in 1997, but the costs from IMF's conditions in its loans has affected the nation's citizens with cut in programs, unemployment, and slow growth. South Korea has now created a safety net with other Asian nations, so that a financial crisis will not happen again. South Korea joined the International Monetary Fund