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International Monetary Fund

Published online by Cambridge University Press:  22 May 2009

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Extract

The Board of Governors of the International Monetary Fund (IMF) held its eighteenth annual meeting in Washington, D.C., from September 30 through October 4, 1963, under the chairmanship of Mr. Emilio Colombo, Governor for Italy. Introducing the annual report, Mr. Pierre-Paul Schweitzer, the new Chairman of the Executive Board and Managing Director of the Fund, welcomed the governors of the twenty member countries which had joined the Fund since the last annual meeting: Algeria, Burundi, Cameroon, Central African Republic, Chad, Congo (Brazzaville), Congo (Leopoldville), Dahomey, Gabon, Guinea, Ivory Coast, Jamaica, Madagascar, Mali, Mauritania, Niger, Rwanda, Trinidad and Tobago, Uganda, and Upper Volta. With the addition of these new members the Fund had a total membership of 102. Mr. Schweitzer commented that in the fiscal year ended in April 1963 eighteen countries had purchased the equivalent of $580 million from the Fund and the equivalent of $807 million had been received in repurchases. Both purchases and repurchases were less than in the previous fiscal year when the United Kingdom had made a very large drawing. The Fund had also made stand-by arrangements with twenty countries under which $1.8 billion was available, including the recently renewed stand-by arrangement of $1.0 billion with the United Kingdom and the $500 million stand-by arrangement with the United States.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Copyright
Copyright © The IO Foundation 1964

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References

1 International Monetary Fund, Summary Proceedings, Annual Meeting, 1963 (Washington, D.C., 1963)Google Scholar. For a summary of the seventeenth annual meeting, see International Organization, Spring 1963 (Vol. 17, No. 2), pp. 500502CrossRefGoogle Scholar.

2 International Monetary Fund (IMF) Press Release 471, February 14, 1964. For a summary of previous activities of the Fund, see International Organization, Winter 1964 (Vol. 18, No. 1), pp. 976977Google Scholar.

3 IMF Press Release 472, February 14, 1964.

4 IMF Press Release 473, February 14, 1964.

5 IMF Press Release 475, February 28, 1964.

6 See below, p. 620.

7 IMF Press Release 476, March 11, 1964.

8 IMF Press Release 477, March 13, 1964.

9 IMF Press Release 479, April 1, 1964.

10 IMF Press Release 481, April 13, 1964.

11 IMF Press Release 482, May 1, 1964.

12 IMF Press Release 474, February 19, 1964.

13 IMF Press Release 478, March 25, 1964.

14 IMF Press Release 469, January 29, 1964

16 IMF Press Release 476, March 11, 1964.

17 IMF Press Release 467, December 31, 1963.

18 IMF Press Release 468, January 1, 1964.

19 IMF Press Release 483, May 3, 1964.

20 IMF Press Release 470, February 3, 1964.

21 IMF Press Release 480, April 3, 1964.