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International Monetary Fund

Published online by Cambridge University Press:  22 May 2009

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Extract

The twelfth annual meeting of the Board of Governors of the International Monetary Fund was held jointly with the Board of Governors of the International Bank for Reconstruction and Development in Washington D.C., September 23–26, 1957, under the chairmanship of Miguel Cuaderno, Sr. Per Jacobsson, Managing Director, reviewed the activities of the Fund during the previous year. Emphasizing that the Fund's assistance was of a short-term nature and designed to enable countries to adopt and carry out, within a limited period of time, programs to restore stability to their economies, Mr. Jacobsson stated that the Fund was being used to help countries meet emergency needs, ease strain in the balance of payments, meet temporary exchange difficulties, and fulfill stabilization programs. Mr. Jacobsson went on to discuss various problems encountered in connection with the Fund's activities and cited, inter alia, multiple currency practices, Fund liquidity, and, in connection with general aspects of the world economy, inflation, relative values of currencies, and financing for underdeveloped countries.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 12 , Issue 2 , Spring 1958 , pp. 223 - 224
Copyright
Copyright © The IO Foundation 1958

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References

1 International Monetary Fund, Summary Proceedings of the Twelfth Annual Meeting of the Board of Governors, September 1957, WashingtonGoogle Scholar. For a summary of the eleventh meeting, see International Organization, XI, p. 176–178.

2 International Monetary Fund, Press Release No. 266, October 3, 1957.

3 Ibid., Press Release No. 271, January 21, 1958.

4 Ibid., Press Release No. 267, October 7, 1957.

5 Ibid., Press Release No. 268, December 16, 1957.

6 Ibid., Press Release No. 269, January 2, 1958.

7 Ibid., Press Release No. 272, January 30, 1958.

8 Ibid., Press Release No. 273, February 7, 1958.

9 Ibid., Press Release No. 265, September 20, 1957.