This volume, edited by James M. Boughton and K. Sarwar Lateef, contains the proceedings of a conference held in Madrid, Spain, in 1994, by the IMF and the World Bank to commemorate the fiftieth anniversary of the Bretton Woods conference of July 1944 that created the two institutions. The conference provided a forum for reflection and for reassessing the roles of the institutions as they approach the twenty-first century.
The third and final keynote speaker was Jacques de Larosière, President of the European Bank for Reconstruction and Development, former Managing Director of the IMF, and former Governor of the Banque de France. Introducing Mr. de Larosière’s speech on stabilization and reform of the international monetary system was Hans Tietmeyer, President of the Deutsche Bundesbank.
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