International Monetary Fund

Extract

The annual joint meeting of the Boards of Governors of the International Monetary Fund and the International Bank for Reconstruction and Development was held in Washington from September 10 to 14, 1951, concurrently with the annual meetings of the Governors of the individual bodies. The Czechoslovakian Governor proposed at the opening meeting that delegates from the People's Republic of China be substituted (in all Fund, Bank and Joint machinery) for the delegates from the “Kuomintang group”. No action, however, was taken on the “expulsion” resolution. At the closing joint session, on September 14, the Governors disposed of the remainder of the substantive work of the Joint Procedures Committee by agreeing that: 1) the seventh annual meeting of the joint Boards of Governors be held in Mexico City in the first half of September, 1952; 2) the Governor for Brazil be chairman for the joint Board of Governors for the ensuing year, while the Governors for China, France, India, the United Kingdom and the United States be vice-chairmen; 3) the composition of the Joint Procedures Committee for the ensuing year be the Governors for Brazil (chairman), Australia (vice-chairman), Lebanon (reporting member), and China, Finland, France, India, Luxembourg, Mexico, the Philippines, the United Kingdom and the United States.