Written by Margaret Garritsen de Vries, former Historian of the IMF, the book describes the policies and activities the IMF has pursued in helping members achieve balane of payments adjustment. Separate treatment is given to industrial and developing countries, since their balance of payments problems have differed. As examples, Japan, France, the United Kingdom, Colombia, and Mexico as discussed.
One of the basic problems of international economic policy is to find effective means for restoring external balance to a country whose balance of payments is seriously in surplus or in deficit. But this problem . . . is closely bound up with the problem of maintaining a high and stable level of economic activity [and] full employment, in the country suffering from the disequilibrium in its balance of payments.