Front Matter

Front Matter

International Monetary Fund
Published Date:
September 1972
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    The following symbols have been used throughout this Report:

    • (…) indicate that data are not available;

    • (—) indicates that the figure is zero or less than half the final digit shown, or that the item does not exist;

    • (–) is used between years or months (e.g., 1968-71 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    • (/) is used between years (e.g., 1971/72) to indicate a fiscal year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The classification of countries employed in the Report is indicated in Table 1 on page 5.

    Table 1.Growth of World Output 1960–71

    (Percentage changes in real GNP1)

    Annual Average2Change from Preceding Year
    Industrial countries
    United States4.
    Germany, Federal Republic4.85.04.7-
    United Kingdom2.
    Total, seven major countries4.
    Other industrial countries
    Primary producing countries
    More developed areas
    Less developed areas
    Source: National economic reports; secretariat of the Organization for Economic Cooperation and Development; secretariat of the United Nations; U. S. Agency for International Development; International Bank for Reconstruction and Development; and Fund staff estimates.

    Or GDP.

    Compound annual rates of change.

    Austria, Belgium, Denmark, Luxembourg, the Netherlands, Norway, Sweden, and Switzerland.

    Comprise Australia, Finland, Greece, Iceland, Ireland, Malta, New Zealand, Portugal, South Africa, Spain, Turkey, and Yugoslavia.

    Comprise all countries not listed above as “Industrial countries,” or as being in “More developed areas” (footnote 4 above), or as CMEA countries, mainland China, etc. (footnote 6 below).

    All countries except the following (not covered in this Report because of absence of data): Members of the Council for Mutual Economic Assistance—Albania, Bulgaria, Cuba, Czechoslovakia, Eastern Germany, Hungary, Mongolia, Poland, Rumania, the Union of Soviet Socialist Republics; mainland China; and North Korea and North Viet-Nam


    Pierre-Paul Schweitzer

    Managing Director and Chairman of the Executive Board

    Frank A. Southard, Jr.

    Deputy Managing Director

    Executive DirectorsAlternate Executive Directors
    William B. DaleCharles R. Harley
    Derek MitchellPeter J. Bull
    Guenther SchleimingerLore Fuenfgelt
    Marc ViénotClaude Beaurain
    Hideo SuzukiKoichi Satow
    P. S.N. PrasadS. S. Marathe
    Francesco Palamenghi-CrispiCarlos Bustelo
    Nazih DeifMuhammad Al-Atrash
    Robert BryceDonald Owen Mills
    Lindsay B. BrandR. van S. Smit
    André van CampenhoutHeinrich G. Schneider
    Erik BrofossSigurgeir Jónsson
    Pieter LieftinckTom de Vries
    Luis UguetoGuillermo González
    Byanti KharmawanCosta P. Caranicas
    Alexandre KafkaBasilio Martins
    Maurice P. OmwonyS. B. Nicol-Cole
    Placido L. Mapa, Jr.Nguyên Huu Hanh
    Carlos Massad A.Ricardo H. Arriazu
    Antoine W. YameogoLéon M. Rajaobelina
    Senior Officers
    The General CounselJoseph Gold
    The Economic CounsellorJ. J. Polak
    Administration DepartmentPhillip Thorson, Director
    African DepartmentMamoudou Touré, Director
    Asian DepartmentD. S. Savkar, Director
    Central Banking ServiceJ. V. Mládek, Director
    European DepartmentL. A. Whittome, Director
    Exchange and Trade Relations DepartmentErnest Sturc, Director
    Fiscal Affairs DepartmentRichard Goode, Director
    IMF InstituteF. A. G. Keesing, Director
    Legal DepartmentJoseph Gold, Director
    Middle Eastern DepartmentJohn W. Gunter, Acting Director 1
    Research DepartmentJ. J. Polak, Director
    Secretary’s DepartmentW. Lawrence Hebbard, Secretary
    Treasurer’s DepartmentWalter O. Habermeier, Treasurer
    Western Hemisphere DepartmentJorge Del Canto, Director
    Bureau of Language ServicesJ. S. Haszard, Director
    Bureau of StatisticsEarl Hicks, Director
    Office in Europe (Paris)Jean-Paul Sallé, Director
    Office in GenevaEdgar Jones, Director
    Chief EditorRoger V. Anderson
    August 7, 1972

    Anwar Ali, Director (on leave).


    August 7, 1972

    My dear Mr. Chairman:

    In accordance with Section 10 of the By-Laws of the International Monetary Fund, I have the honor to present to the Board of Governors the Annual Report of the Executive Directors for the fiscal year ended April 30, 1972.

    Yours sincerely,


    Pierre-Paul Schweitzer

    Chairman of the Executive Board

    Chairman of the Board of Governors

    International Monetary Fund

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