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Legal and institutional Aspects of the international Monetary System
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Author(s):
International Monetary Fund
Published Date:
December 1984
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    Bibliographies

    Bibliography of Short Titles

    This bibliography is a guide to the short titles that have been used for some of the works cited in this volume.

      Annual Report, 19—International Monetary Fund, Annual Report of the Executive Directors for the Fiscal Year Ended April 30, 1948–1977 (Washington, 1948–1977), and Annual Report of the Executive Board for the Financial Year Ended April 30, 1978–1983 (Washington, 1978–1983).

      Asian Basic Documents Basic Documents of Asian Regional Organizations, ed., MichaelHaas (New York: Oceana Publications, 1979).

      Documents of Committee of Twenty Committee on Reform of the International Monetary System and Related Issues, International Monetary Reform: Documents of the Committee of Twenty (Washington: International Monetary Fund, 1974).

      EMS Texts Committee of Governors of the Central Banks of the Member States of the European Economic Community, European Monetary Cooperation Fund, Texts Concerning the European Monetary System (1979).

      Gold, Membership and NonmembershipJosephGold,Membership and Nonmembership in the International Monetary Fund: A Study in International Law and Organization (Washington, 1974).

      Gold, Reform of the FundJosephGold,The Reform of the Fund, IMF Pamphlet Series, No. 12 (Washington, 1969).

      Gold, Selected EssaysJosephGold,Legal and Institutional Aspects of the International Monetary System: Selected Essays (Washington, 1979).

      Gold, Stand-By ArrangementsJosephGold,The Stand-By Arrangements of the International Monetary Fund: A Commentary on Their Formal, Legal, and Financial Aspects (Washington, 1970).

      Gold, Voting and DecisionsJosephGold,Voting and Decisions in the International Monetary Fund: An Essay on the Law and Practice of the Fund (Washington, 1972).

      Group of Thirty-Two, The Problem of Choice Group of Thirty-Two, The Problem of Choice: Report on the Deliberations of an International Group of 32 Economists (Princeton: Princeton University Press, 1964).

      History, 1945–65 The International Monetary Fund, 1945–1965: Twenty Years of International Monetary Cooperation, byJ. KeithHorsefield and others (Washington, 1969), 3 vols.

      History, 1966–71 The International Monetary Fund, 1966–1971: The System Under Stress, byMargaret Garritsende Vries (Washington, 1976), 2 vols.

      Keynes, Collected WritingsJohnMaynard Keynes,The Collected Writings of John Maynard Keynes, Vol. 25, Activities 1940–1944, Shaping the Post-War World: The Clearing Union (London and Cambridge: Macmillan and Cambridge University Press, 1980), ed.DonaldMoggridge; (ed) Vol. 26, Activities 1941–1946: Shaping the Post-War World, Bretton Woods, and Reparations (1980).

      Outline of Reform Outline of Reform, in International Monetary Fund, International Monetary Reform: Documents of Committee of Twenty (Washington, 1974), pp. 748; Summary Proceedings of the Twenty-Ninth Annual Meeting of the Board of Governors (Washington, 1974), pp. 287330; and IMF Survey, Vol. 3 (1974), pp. 193208.

      Procs. and Docs. Proceedings and Documents of the United Nations Monetary and Financial Conference, Bretton Woods, New Hampshire, July 1–22, 1944, Department of State Publication 2866, International Organization Conference Series 1, 3 (Washington, 1948), 2 vols.

      Reform of International Monetary System International Monetary Fund, Reform of the International Monetary System: A Report by the Executive Directors to the Board of Governors (Washington, 1972).

      Report on First Amendment International Monetary Fund, Establishment of Facility Based on Special Drawing Rights in the International Monetary Fund and Modifications in the Rules and Practices of the Fund: A Report by the Executive Directors to the Board of Governors Proposing Amendment of the Articles of Agreement (Washington, April1968), reproduced in History, 1966–71, Vol, II, pp. 5294.

      Report on Second Amendment International Monetary Fund, Proposed Second Amendment to the Articles of Agreement of the International Monetary Fund: A Report by the Executive Directors to the Board of Governors (Washington, 1976).

      Selected Decisions International Monetary Fund, Selected Decisions of the International Monetary Fund and Selected Documents, various issues (Washington).

      Summary Proceedings, 19—International Monetary Fund, Summary Proceedings of the … Annual Meeting of the Board of Governors, 19— (Washington, 19—).

      U.S. Congress, Hearing, IMF Gold AgreementU.S. Congress, Joint Economic Committee, Hearing, The IMF Gold Agreement, 94th Cong., 1st Sess., October10, 1975 (Washington).

      U.S. Congress, Hearing, Next Steps in International Monetary ReformU.S. Congress, Joint Economic Committee, Subcommittee on International Exchange and Payments, Hearing, Next Steps in International Monetary Reform, 90th Cong., 2d Sess., September9, 1968 (Washington, 1968).

      U.S. Congress, Hearings, Proposed IMF Quota IncreaseU.S. Congress, Joint Economic Committee, Subcommittee on International Exchange and Payments, Hearings, The Proposed IMF Quota Increase and Its Implications for the Two-Tier Gold Market, 91st Cong., 1st Sess., November13 and 14, 1969 (Washington).

      U.S. Senate, Amendments of Bretton Woods Agreements ActU.S. Senate, Amendments of the Bretton Woods Agreements Act: Hearing Before the Subcommittee on International Finance of the Senate Committee on Banking, Housing and Urban Affairs, 94th Cong., 2d Sess., August27, 1976 (Washington).

      U.S. Senate Hearings on Bretton Woods Agreements ActU.S. Congress, Senate, Committee on Banking and Currency, Bretton Woods Agreements Act, Hearings on H.R. 3314, 79th Cong., 1st Sess., June12–16, 18–22, 25, and 28, 1945 (Washington, 1945).

    Author’s Bibliography

    This bibliography is composed of the publications of the author on the International Monetary Fund and monetary law to 1984.

    Books

    Fund’s History

      10. “Constitutional Development and Change,in The International Monetary Fund, 1945–1965: Twenty Years of International Monetary Cooperation, ed.J. KeithHorsefield (ed) (Washington, 1969), Vol. II, Part V, pp. 513605.

    Contributions to Books

      11. “Decisions Relating to the International Monetary Fund,”in International Law Reports, 1955, ed.Sir HerschLauterpacht (ed) (London: But-terworth & Co. Ltd., 1958), pp. 70537.

      12. “The International Monetary Fund,”in A Lawyer’s Guide to International Business Transactions, ed.WalterS. Surrey andCrawfordShaw (Philadelphia, Pa.: Joint Committee on Continuing Legal Education of the American Law Institute and the American Bar Association, 1963), pp. 45769.

      13. “International Monetary Fund,in Legal Advisers and International Organizations, ed.H. C. L.Merillat (ed) (Dobbs Ferry, N.Y.: Oceana Publications, Inc., 1966), pp. 96104.

      14. “The Duty to Collaborate with the International Monetary Fund and the Development of Monetary Law,in Law, Justice and Equity: Essays in Tribute to G. W. Keeton, eds.R. H.Code Holland and G.Schwarzenberger (ed) (London: Sir Isaac Pitman & Sons Ltd., 1967), pp. 13751.

      15. “The Role of the International Monetary Fund in International Monetary Reform with Special Reference to Developing Countries,in Development: International Law and Economics, Proceedings of a Symposium held at Stanford University on March 1–3, 1967, ed.GeneL. Armstrong (ed) (Stanford, Calif.: International Society, Stanford School of Law, 1967), pp. 3947.

      16. “Certain Aspects of the Law and Practice of the International Monetary Fund,in The Effectiveness of International Decisions, ed.StephenM. Schwebel (ed) (Leiden: A. W. Nijhoff; Dobbs Ferry, N.Y.: Oceana Publications, 1971), pp. 7199.

      17. “On the Difficulties of Defining International Agreements: Some Illustrations from the Experience of the International Monetary Fund,in Economic and Social Development: Essays in Honour of Dr. C. D. Deshmukh, ed.S. L. N.Simha (ed) (Bombay: Vora and Co., 1972), pp. 2544.

      18. “The International Monetary System and Change: Relations Between the Mode of Negotiation and Legal Technique,in Jus et societas: Essays in Tribute to Wolfgang Friedmann, principaled.GabrielM. Wilner (ed) (The Hague: Martinus Nijhoff Publishers, 1979), pp. 11633.

      19. “Exchange Arrangements and International Law in an Age of Floating Currencies,in Proceedings of the Seventy-Third Annual Meeting of the American Society of International Law (Washington, 1979), pp. 115.

      20. “The International Monetary Fund,in A Lawyer’s Guide to International Business Transactions, Seconded.,Part II, eds.WalterS. Surrey andDonWallace, Jr. (ed) (Philadelphia, Pa.: American Law Institute-American Bar Association Committee on Continuing Professional Education, 1979), pp. 348.

      21. “Balance of Payments Transactions of the International Monetary Fund,in International Financial Law: Lending, Capital Transfers and Institutions, ed.RobertS. Rendell (ed) (London: Euromoney Publications, 1980), pp. 23750.

      22. “Balancing the System in the 1980s: Private Banks and the IMF, Comment,in The International Framework for Money and Banking in the 1980s, ed.GaryClyde Hufbauer (ed) (Washington: Georgetown University Law Center, International Law Institute, 1981), pp. 17085.

      23. “The Need for a Common Currency in International Insurance Contracts—SDRs?in World Insurance Outlook, Summary Proceedings, eds.MichaelE. Hogue andDouglasG. Olson (ed) (Philadelphia: Corporation for the Philadelphia World Insurance Congress, 1982), pp. 52228.

      24. “Developments in the International Monetary System, The International Monetary Fund, and International Monetary Law since 1971,in Hague Academy of International Law, Recueil des Cours, Vol. 174 (The Hague, 1/1982), pp. 107366.

      25. “International Monetary Fund,in Encyclopedia of Public International Law, Installment 5, International Organizations in General, Universal International Organizations and Cooperation, ed. R.Bernhardt (ed) (Amsterdam/New York/Oxford: North-Holland, 1983), pp. 10815.

    Forthcoming

    Fund Pamphlet Series (Washington) (in English, French, and Spanish)

    Fund Occasional Papers Series (Washington)

      56. The Multilateral System of Payments: Keynes, Convertibility, and the International Monetary Fund’s Articles of Agreement, No. 6 (1981). 31 pp.

    Fund Staff Papers (Washington)

    Reports

      78. (a) A Report on Certain Legal Developments in the International Monetary Fund,contributed as part of the World Association of Lawyers series on the Law-Making Activities of International Organizations (Washington: The World Association of Lawyers,1976). 40 pp.

      (b) “A Report on Certain Recent Legal Developments in the International Monetary Fund,Vanderbilt Journal of Transnational Law, Vol. 9 (Nashville, Tenn., 1976), pp. 22345.

      79. A Second Report on Some Recent Legal Developments in the International Monetary Fund (Washington: The World Association of Lawyers, 1977). 53 pp.

      80. A Third Report on Some Recent Legal Developments in the International Monetary Fund (Washington: The World Association of Lawyers, 1978). 43 pp.

    Articles

      81. “L’application des Statuts du Fonds Monétaire par les Tribunaux,Revue Critique de Droit International Privé, Vol. 40 (Paris,1951), pp. 57195.

      82. “Recente application des Statuts du Fonds Monétaire par les Tribunaux,Annales de Droit et des Sciences Politiques, Vol. 13 (Brussels, 1953), pp. 36587.

      83. Note on “Mary Perutz as Administratrix of the Estate of Arthur Perutz, Respondent v. Bohemian Discount Bank in Liquidation, Appellant”(with G. R. Delaume), Journal du Droit International, Vol. 80 (Paris, 1953), pp. 797810.

      84. “Das Währungsabkommen von Bretton Woods vom 22.7.1944 in der Rechtsprechung,Zeitschrift für ausländisches und internationales Privatrecht, Vol. 19 (Tübingen, 1954), pp. 60142.

      85. “The Interpretation by the International Monetary Fund of its Articles of Agreement,International and Comparative Law Quarterly, Vol. 3 (London, 1954), pp. 25676.

      86. “Das Währungsabkommen von Bretton Woods vom 22.7.1944 in der Rechtsprechung—II,Zeitschrift für ausländisches und internationales Privatrecht, Vol. 22 (Tübingen, 1957), pp. 60136.

      87. “The Articles of Agreement of the International Monetary Fund and the Exchange Control Regulations of Member States” (withPhilineR. Lachman), Journal du Droit International, Vol. 89 (Paris, 1962), pp. 66685.

      88. “Das Währungsabkommen von Bretton Woods vom 22.7.1944 in der Rechtsprechung—III,Rabels Zeitschrift für ausländisches und internationales Privatrecht, Vol. 27 (Tübingen, 1962), pp. 60665.

      89. “The Law and Practice of the International Monetary Fund with Respect to ‘Stand-By Arrangements,’International and Comparative Law Quarterly, Vol. 12 (London, 1963), pp. 130.

      90. “Kokusai Tsuka Kikin; Kokusai tsuka-ho oyobi soshiki ni okeru chii[“Role of IMF in international monetary law and organization”], in Jurist, No. 320 (Tokyo, April1, 1965), pp. 7786.

      91. “Minkan torihiki ni taisuru IMF (Kokusai Tsuka Kikin): Kyotei no hoteki Koka[“Legal effect of the IMF Agreement on private transactions”], in Jurist, No. 318 (Tokyo, March15, 1965), pp. 7584.

      92. “Interpretation by the International Monetary Fund of its Articles of Agreement—II,International and Comparative Law Quarterly, Vol. 16 (London, 1967), pp. 289329.

      93. “The International Monetary Fund and the International Recognition of Exchange Control Regulations: The Cuban Insurance Cases,Revue de la Banque, 1967, No. 6 (Brussels, 1967), pp. 52338.

      94. “The Next Stage in the Development of International Monetary Law: The Deliberate Control of Liquidity,American Journal of International Law, Vol. 62 (Washington, 1968), pp. 365402.

      95. “Legal Technique in the Creation of a New International Reserve Asset: Special Drawing Rights and the Amendment of the Articles of Agreement of the International Monetary Fund,Case Western Reserve Journal of International Law, Vol. 1 (Cleveland, Ohio, 1969), pp. 10523.

      96. “A Comparison of Special Drawing Rights and Gold as Reserve Assets,Law and Policy in International Business, Vol. 2 (Washington, 1970), pp. 32651.

      97. “Les définitions des réserves d’un pays dans le droit du Fonds Monétaire International,Bulletin d’Information et de Documentation de la Banque Nationale de Belgique, XLV année, Vol. II (Brussels, November1970), pp. 62539.

      98. “Unauthorized Changes of Par Value and Fluctuating Exchange Rates in the Bretton Woods System,American Journal of International Law, Vol. 65 (Washington, 1971), pp. 11328.

      99. “Use of the International Monetary Fund’s Resources: ‘Conditionality’ and ‘Unconditionally’ as Legal Categories,Journal of International Law and Economics, Vol. 6 (Washington, 1971), pp. 126.

      100. “The Composition of a Country’s Reserves in International Law,Journal of World Trade Law, Vol. 5 (Twickenham, England, 1971), pp. 477508.

      101. “ ‘To Contribute Thereby To … Development …’: Aspects of the Relations of the International Monetary Fund with Its Developing Members,Columbia Journal of Transnational Law, Vol. 10 (New York, 1971), pp. 267302.

      102. “The ‘Sanctions’ of the International Monetary Fund,American Journal of International Law, Vol. 66 (Washington, 1972), pp. 73762.

      103. “The ‘Dispensing’ and ‘Suspending’ Powers of International Organizations,Nederlands Tijdschrift voor Internationaal Recht, Vol. 10 (Leiden, 1972), pp. 169200.

      104. “The Legal Structure of the Par Value System,Law and Policy in International Business, Vol. 5 (Washington, 1973), pp. 155214.

      105. “The Amendment and Variation of Their Charters by International Organizations,Revue Belge de Droit International, Vol. 9 (Brussels, 1973), pp. 5076.

      106. “Weighted Voting Power: Some Limits and Some Problems,American Journal of International Law, Vol. 68 (Washington, 1974), pp. 687708.

      107. “ ‘Pressures’ and Reform of the International Monetary System,New York University Journal of International Law and Politics, Vol. 7 (New York, 1974), pp. 42358.

      108. “The Bretton Woods Agreement of July 22, 1944 in the Courts—IV,Rabels Zeitschrift für ausländisches und internationales Privatrecht, Vol. 38 (Tübingen, 1974), pp. 683719.

      109. “Recent International Decisions to Prevent Restrictions on Trade and Payments,Journal of World Trade Law, Vol. 9 (Twickenham, England, 1975), pp. 6378.

      110. “Uniformity as a Legal Principle of the International Monetary Fund,Law and Policy in International Business, Vol. 7 (Washington, 1975), pp. 765811.

      111. “Law and Reform of the International Monetary System,Journal of International Law and Economics, Vol. 10 (Washington, 1975), pp. 371421.

      112. “Law and Change in International Monetary Relations,The Record (of the Association of the Bar of the City of New York), Vol. 31 (New York, 1976), pp. 22338.

      113. “ ‘Political’ Bodies in the International Monetary Fund,Journal of International Law and Economics, Vol. 2 (Washington, 1977), pp. 23785.

      114. International Capital Movements Under the Law of the International Monetary Fund. Workpaper prepared for the Panel on Banking Law and the Regulation of the International Flow of Capital, Manila Conference on the Law of the World heldAugust21–26, 1977 (Washington: World Association of Lawyers,1977). 85 pp.

      115. “International Law and the IMF,Finance & Development, Vol. 14, No. 4 (Washington, December1977), pp. 3537.

      116. “The Second Amendment of the Fund’s Articles of Agreement: A General View, I,Finance & Development, Vol. 15, No. 1 (Washington, March1978), pp. 1013.

      117. “The Second Amendment of the Fund’s Articles of Agreement: A General View, II,Finance & Development, Vol. 15, No. 2 (Washington, June1978), pp. 1518.

      118. “La Segunda Enmienda del Convenio Constitutivo del Fondo Monetario Internacional,Banco Central de Chile, Boletín Mensual, No. 605 (Santiago, Chile, July1978), pp. 1 and 11734. (Translation of items 95–97.)

      119. “Some First Effects of the Second Amendment,Finance & Development, Vol. 15, No. 3 (Washington, September1978), pp. 2429.

      120. “Trust Funds in International Law: The Contribution of the International Monetary Fund to a Code of Principles,American Journal of International Law, Vol. 72 (Washington, 1978), pp. 85666.

      121. “The Structure of the Fund,Finance & Development, Vol. 16, No. 2 (Washington, June1979), pp. 1115.

      122. “The Fund’s Interim Committee—An Assessment,Finance & Development, Vol. 16, No. 3 (Washington, September1979), pp. 3235.

      123. “New Directions in the Financial Activities of the International Monetary Fund,The International Lawyer, Vol. 13 (Chicago, 111., 1979), pp. 44970.

      124. “Improving the Special Drawing Right,Agence Economique et Financière (édition spéciale du quotidien Suisse, Zurich, September28, 1979), pp. 5961.

      125. “Convertible Currency Clauses Under Present International Monetary Arrangements,Journal of International Law and Economics, Vol. 13, No. 2 (Washington, 1979). French translation published in Revue Critique de Droit International Privé, Vol. 69, No. 1 (Paris, 1980), pp. 140.

      126. “Symmetry as a Legal Objective of the International Monetary System,New York University Journal of International Law and Politics, Vol. 12 (New York, 1980), pp. 42377.

      127. “Substitution in the International Monetary System,Case Western Reserve Journal of International Law, Vol. 12 (Cleveland, Ohio, Spring1980), pp. 265326.

      128. “El Cambiante papel del Oro en el Derecho Monetario Internacional,Jurídica, No. 12 (Mexico, 1980), pp. 23780.

      129. “The Origins of Weighted Voting Power in the Fund,Finance & Development, Vol. 18, No. 1 (Washington, March1981), pp. 2528.

      130. “Keynes and the Articles of the Fund,Finance & Development, Vol. 18, No. 3 (Washington, September1981), pp. 3842.

      131. “Gold in International Monetary Law: Change, Uncertainty, and Ambiguity,Journal of International Law and Economics, Vol. 15 (Washington, 1981), pp. 32370.

      132. “Transformations of the International Monetary Fund,Columbia Journal of Transnational Law, Vol. 20 (New York, 1981), pp. 22741.

      133. “Development of the SDR as Reserve Asset, Unit of Account, and Denominator,George Washington Journal of International Law and Economics, Vol. 16 (Washington, 1981), pp. 164.

      134. “Professor Verwey, The International Monetary Fund, and Developing Countries,Indian Journal of International Law, Vol. 21 (New Delhi, 1981), pp. 497512.

      135. “The Relationship Between the International Monetary Fund and the World Bank,Creighton Law Review, Vol. 15 (Omaha, Nebr., 1981–82), pp. 499521.

      136. “Keynes on Legal Problems of International Organization,Connecticut Law Review, Vol. 14 (West Hartford, Conn., 1982), pp. 121.

      137. “Effects of Variable Exchange Rates on Treaties,Revue Belge de Droit International, 1/81–82 (Brussels, 1982), pp. 172208.

      138. “Algunos Efectos de los Articulos del Convenio Constitutivo del Fondo Monetario Internacional en el Derecho Internacional Privado,Jurídica, No. 14 (Mexico, 1982), pp. 295325.

      139. “Political Considerations Are Prohibited by Articles of Agreement when the Fund Considers Requests for Use of Resources,IMF Survey, Vol. 12, No. 10 (Washington, May23, 1983), pp. 14648. (Reprinted as The Nonpolitical Character of the International Monetary Fund; also in French and Spanish.)

      140. “Strengthening the Soft International Law of Exchange Arrangements,American Journal of International Law, Vol. 77 (Washington, 1983), pp. 44389.

      141. “Relations Between Banks’ Loan Agreements and IMF Stand-By Arrangements,International Financial Law Review (London, September1983), pp. 2835.

      142. “Australia and Article VIII, Section 2(b) of the Articles of Agreement of the International Monetary Fund,The Australian Law Journal, Vol. 57, No. 10 (Sydney, October1983), pp. 56066.

      143. “A New Universal and a New Regional Monetary Asset: SDR and ECU,Österreichische Zeitschrift für Öffentliches Recht und Völkerrecht [Austrian Journal of Public and International Law], Vol. 34 (Vienna, 1983), pp. 11772.

      144. “Some Impressions of the Early Fund,Finance & Development, Vol. 21, No. 1 (Washington, March1984), pp. 2325.

      145. “Recent Ruling of the United States Supreme Court Establishes a Conversion Price for the Gold Franc,IMF Survey, Vol. 13, No. 9 (Washington, May8, 1984), pp. 14142.

    Forthcoming Articles

      146. “Legal Models for the International Regulation of Exchange Rates,Michigan Law Review, Vol. 82, No. 5 & 6 (April–May1984), pp. 10122.

      147. “Exchange Control: Act of State, Public Policy, the IMF’s Articles of Agreement, and Other Complications,Houston Journal of International Law.

      148. “Exchange Controls and External Indebtedness: Are the Bretton Woods Concepts Still Workable? Introduction,Houston Journal of International Law.

      149. “The Distinction Between ‘Inter-Governmental’ and ‘Inter-State’ Treaties and Organizations: The International Monetary Fund Agreement—A Note on Mr. Obeyesekere’s Note,Indian Journal of International Law (New Delhi).

      150. “Continuidad y Cambio en el Fondo Monetario Internacional,Jurídica (Mexico).

      151. “‘Exchange Contracts,’ Exchange Control, and the IMF Agreement: Some Animadversions on Wilson, Smithett & Cope Ltd. v. Terruzzi,”International and Comparative Law Quarterly (London).

      152. “The Growing Role of the IMF’s Stand-By Arrangements,The Journal of Business Law (London).

    Book Reviews

      153. Charles Henry Alexandrowicz, International Economic Organizations (London, 1952), in Zeitschrift für ausländisches und Internationales Privatrecht, Vol. 20 (Tübingen, 1955), pp. 71517.

      154. RobertTriffin,The World Money Maze: National Currencies in International Payments (New Haven, Conn., 1966), in American Journal of International Law, Vol. 61 (Washington, 1967), pp. 83033.

      155. JaneWelsh,ed.,The Regulation of Banks in the Member States of the EEC (The Hague, 2nd ed., 1981), in American Journal of International Law, Vol. 77 (Washington, 1983), pp. 95051.

      156. AbrahamM. George and Ian H.Giddy,eds., International Finance Handbook (New York, 1983), and Julian Walmsley, The Foreign Exchange Handbook (New York, 1983), Law and Policy in International Business, Vol. 15 (Washington, 1983), pp. 107182.

      157. Frederic L.Kirgis, Jr., Prior Consultation in International Law: A Study of State Practice (Charlottesville, Va., 1984), in Virginia Journal of International Law, Vol. 24 (Charlottesville, Va., 1984), pp. 72953.

    Comments and Letters

      158. Regionalism and International Law: The Most-Favored-Nation Clause in a Changing World in Proceedings of the American Society of International Law, Fifty-Fourth Annual Meeting, 1960 (Washington, 1960), pp. 18894.

      159. Preliminary Note on Establishment of a Facility Based on Special Drawing Rights in the International Monetary Fund and Modifications in the Rules and Practices of the Fund: A Report by the Executive Directors to the Board of Governors Proposing Amendment of the Articles of Agreement, in International Legal Materials: Current Documents, Vol. 7 (Washington, 1968), p. 473.

      160. Preliminary Note appearing as a preface to the publication of the Fund’s Report by the Executive Directors on the Proposed Second Amendment to the Articles of Agreement of the International Monetary Fund, in International Legal Materials: Current Documents, Vol. 15 (Washington, 1976), pp. 499500.

      161. Letter, “The Liability of Air Carriers for Death and Personal Injury to Passengers,Australian Law Journal, Vol. 56 (1982), p. 558.

      162. Letter, ibid., pp. 67677.

      163. Letter on Borrowing by IMF, Journal of Commerce (January28, 1983), p. 4A.

      164. “The SDR in Treaty Practice: A Checklist,International Legal Materials: Current Documents, Vol. 22, No. 1 (Washington, 1983), pp. 20913.

    Indexes

    Index A. Provisions of Articles of Agreement Cited

    Page references followed by the letter n refer to footnotes on the relevant pages.

    Original Articles
    ArticleSectionPage
    I(iii)26n, 81n, 298n, 738n
    II174n
    II2887
    III732n
    III3(b)217n
    III4217n, 732n
    IV1(a)77n, 726n
    IV249n, 84n, 261n, 736n
    IV349n, 82n, 83, 260n, 728n
    IV3(i)159n
    IV3(ii)160n
    IV4(a)81n, 119n, 126n, 263n, 298n, 546n, 738n
    IV4(b)49n, 83n, 184n, 188n, 261n, 728n, 812n
    IV5727n
    IV5(a)79n, 627n, 845n
    IV5(b)78n, 298n
    IV5(c)93n
    IV5(c)(ii)77n, 93n
    IV5(c)(iii)77n
    IV5(e)77n, 93n, 156n
    IV5(f)78n, 93n
    IV694n
    IV7522n, 646n, 727n
    IV8607n
    IV9647n
    V3180n, 725n
    V4180n
    V6725n
    V6(a)733n
    V6(b)735n
    V7170n, 217n
    V7(b)806n
    V8(f)217n, 732n
    VI350n, 173n, 810n
    VII2(ii)217n, 221n, 732n, 868n
    VII391n
    VII491n
    VIII555, 805
    VIII2555, 805–11
    VIII2(a)65n, 73n, 90n, 171
    VIII364n, 73n, 87n, 89n, 555, 805–11
    VIII4555, 702n, 743, 805–11
    XII383n
    XII2(b)(iv)467n
    XII3461n
    XII5(d)33n, 78n
    XII846n
    XIV555
    XIV2169n, 174n, 188n, 805, 806
    XIV3169n
    XIV4806n
    XIV593n
    XVI108n
    XVII168n
    XVIII31n
    XIX(a)170n, 194n, 731n, 806n
    XIX(b)45n, 194n, 731n, 806n
    XIX(c)194n, 731n, 806n
    XIX(d)169n, 194n, 731n, 805n, 806n
    XIX(e)194n, 731n, 806n
    XIX(f)731n, 806n
    XIX(g)176n, 194n, 731n, 806n
    XIX(h)176n
    XIX(i)171n
    XX477n
    XX4(b)93n
    XX4(c)93n
    XXIII1888–89
    Schedule
    B170n, 217n, 806n
    First Amendment
    ArticleSectionPage
    I381n
    I(iii)81n, 298n
    II174n
    III3206n
    III3(b)217n
    III4206n, 217n
    IV1(a)77n
    IV249n, 84n, 261n, 811
    IV349n, 82n, 83, 260n, 728n
    IV3(i)159n
    IV3(ii)160n
    IV4(a)26n, 81n, 119n, 126n, 263n, 298n, 546n, 554–55
    IV4(b)49n, 83n, 84, 95, 184n, 188n, 261n, 728n, 812n
    IV5(a)79n
    IV5(b)78n, 92n, 298n
    IV5(c)93n
    IV5(c)(ii)77n, 93n
    IV5(c)(iii)77n
    IV5(e)77n, 93n, 156n
    IV5(f)78n, 93n
    IV694n
    IV792n, 522n
    V3180n
    V3(a)(iii)194n
    V4180n
    V6206n
    V7170n
    V9206n, 209n
    VI350n, 173n, 810n
    VII2(ii)217n, 221n, 868n
    VII391n, 92n
    VII491n
    VIII296, 521, 748, 812, 814
    VIII2(a)65n, 73n, 90n, 171
    VIII364n, 73n, 87n, 89n, 96, 521, 748, 812, 814
    VIII496, 521, 748, 751, 812, 814
    XII383n
    XII5(d)33n, 78n
    XII846n
    XIV2169n, 174n, 188n
    XIV3169n
    XIV593n
    XVI108n
    XVII168n
    XVIII31n
    XIX(a)170n, 194n
    XIX(b)45n, 194n
    XIX(c)194n
    XIX(d)169n, 194n, 805
    XIX(e)194n
    XIX(g)176n, 194n, 835
    XIX(h)176n
    XIX(i)(1–4)171n
    XX477n
    XX4(b)93n
    XX4(c)93n
    XXI257n
    XXI1195n
    XXI2748n
    XXII257n
    XXIII257n
    XXIII3207n
    XXIV257n
    XXIV1810n
    XXIV1(a)211n
    XXIV1(b)198n, 212n, 267n
    XXIV4(d)212n
    XXV257n
    XXV1195n
    XXV2205n
    XXV2(a)209n
    XXV2(b)86n, 191n, 209n
    XXV2(b)(i)180n, 267n, 702n, 749n
    XXV2(b)(ii)180n, 208n
    XXV3181n, 206n, 750n
    XXV3(a)195n, 209n
    XXV3(b)206n
    XXV4205n, 208n, 811n
    XXV586n, 180n, 205n, 811n
    XXV5(a)(i)208n
    XXV5(a)(ii)206, 750n
    XXV6205n
    XXV7206n
    XXV8811, 812n
    XXVI257n
    XXVI3204n, 209n
    XXVI5206n
    XXVII257n
    XXVIII208n, 257n
    XXIX257n
    XXX257n
    XXXI257n
    XXXII(a)205n
    XXXII(b)182n, 811n
    XXXII(b)(1)(i)86n, 748n
    XXXII(c)194n, 495n
    ScheduleParagraph
    B170n
    D7886
    F257n
    G205n, 257n
    G1(b)195n, 330n
    H257n
    I257n
    Second Amendment
    ArticleSectionPage
    Introductory783n, 887–88
    I18, 26, 28, 36, 61n, 62, 375n, 381–82, 455, 457, 529n
    I(i)61, 866n
    I(ii)463–64
    I(iii)26n, 126n, 158n
    I(iv)170n, 414n, 786n
    I(v)418n, 437n
    II885, 887
    II2884–86
    III456n
    III2206, 406n
    III3206
    IV26n, 123n, 135, 142, 190, 279, 281, 283, 288, 302, 412n, 527, 529n, 530, 535, 585n, 635n
    IV19, 26, 27, 39, 42, 51, 119n, 120–22, 124, 130n, 143n, 157–58, 167, 250, 375n, 458n, 464n, 528–30, 532n, 538n, 542n, 546, 554, 566–67, 569n, 637n
    IV1(iii)127n, 159n, 302n, 553
    IV227, 120, 158, 530
    IV2(a)116, 250
    IV2(b)113, 130, 142, 220n, 447n, 531n, 551, 756n, 777
    IV2(c)114, 130, 152, 530n
    IV3120, 158, 458n, 542
    IV3(a)116
    IV3(b)116, 118, 122–23, 130, 142, 158, 401n, 531n, 545n, 556, 585n, 793n, 846n
    IV427, 115n, 151n, 152–53, 191n, 198n, 284n, 533n, 566n, 631n, 663n, 692n, 696n
    V145n, 879
    V2595n
    V2(a)427n, 608n, 784n
    V2(b)153n, 363, 367, 369, 376, 399n, 609n, 762n, 783n, 867n, 871n
    V3419n, 456n
    V3(a)436n, 786n
    V3(b)785n, 798n
    V3(b)(ii)153n, 192n, 196n
    V3(b)(iii)423n, 440n, 785n
    V3(c)785
    V3(d)191n, 196n, 799n, 800n
    V3(e)420n
    V3(e)(1)194n, 818n
    V3(e)(ii)–(iv)818n
    V4440n
    V5647n, 792, 794–95
    V6206n, 234n
    V7419n, 425n, 456n
    V7(b)196n, 426n
    V7(i)196n
    V7(j)429n, 818n
    V8(a)372n
    V8(d)864n
    V9204n, 206n, 420n
    V10138n, 431n, 612n, 757n
    V11137n, 221n, 431n, 612n, 616n, 757n, 872n
    V12220n, 761n
    V12(a)758n
    V12(c)427n, 758n
    V12(d)8, 221n
    V12(e)758n
    V12(f)608n, 784n
    V12(f)(ii)122n, 464n
    V12(f)(iii)122n, 464n
    V12(h)432n, 609n
    VI486, 858
    VI1792, 794
    VI1(a)858n
    VI337n, 42, 73n, 173n, 175n, 177, 179, 810n
    VII295, 441n
    VII1456n, 485
    VII3133n
    VII3(a)177
    VII3(b)42n
    VII4133n
    VIII556, 559, 761, 815, 821, 823n, 828–30
    VIII2169, 174, 177, 179, 181–83, 193–94, 256, 268, 282, 538n, 815, 820–21, 823, 826–29, 834
    VIII2(a)37n, 65n, 73n, 171–73, 179, 186n, 852–53
    VIII2(b)53n, 879
    VIII337n, 64n, 73n, 130n, 161n, 169, 173–74, 179, 181–83, 193–94, 256, 268, 282, 414n, 417n, 454n, 538n, 585n, 756n, 815, 820, 821, 823
    VIII4169, 174, 177–79, 181–85, 188–89, 192–94, 256, 268, 271, 282, 815–16, 820–21, 823, 826–29, 834, 852–54
    VIII4(a)(i)179n
    VIII4(b)(iii)179n
    VIII4(b)(v)179
    VIII5(c)61
    VIII76, 27, 197n, 203n, 236n, 286n, 307, 350n, 366, 445n, 457n, 660n, 667n, 755n, 776
    IX871n
    X60, 466n
    XI47n, 159n, 888
    XI2172n
    XII383n, 885
    XII128, 540n
    XII2(a)461n, 540n
    XII3461n, 886
    XII3(b)117n, 390n, 881n, 884–85, 888
    XII3(c)450, 884n
    XII3(g)31n
    XII4(b)391n
    XII5403n
    XII5(c)33n, 405n
    XII6(f)432n, 608n, 784n
    XII6(f)(v)430n
    XII846n, 63
    XIII2(a)879, 888
    XIV46n, 188, 256, 556
    XIV1169n, 856
    XIV242n, 169n, 174n, 177, 414n
    XV257n
    XV1312n, 783n
    XV2157n, 204n, 220n, 591n, 671n, 757n
    XVI257n
    XVI1783n
    XVI2783n, 871n
    XVII257n, 346
    XVII1888–89
    XVII2709n, 783n, 785n
    XVII3208n, 235n, 369n, 709n
    XVIII257n, 665n
    XVIII1783n, 810n
    XVIII1(a)198n, 211n, 236n, 312n, 351n, 375n, 666n
    XVIII1(b)198n, 267n
    XVIII2210n, 252
    XVIII2(b)214n, 406n
    XVIII2(e)353n
    XVIII3207n, 252
    XVIII4393n
    XVIII4(d)212n, 353n
    XIX257n, 824n
    XIX2(a)209n
    XIX2(b)191n, 205n, 209n, 267n
    XIX2(c)206n, 208n
    XIX3211n
    XIX3(a)197n, 206n, 209n, 231n
    XIX4205n, 208n, 369n, 531n, 532n, 541n, 811n, 816n
    XIX4(a)194n
    XIX5205n, 369n, 371n, 531n, 541n, 811n
    XIX5(a)(i)197n, 208n, 677n,
    XIX6369n
    XIX6(b)205n
    XIX7817n
    XX229n, 257n
    XX3204n, 372n
    XXI257n, 783n
    XXII28, 197n, 203n, 208n, 257n, 346, 350n, 445n, 457n, 660n, 667n, 755n, 817n
    XXIII257n
    XXIII2801n
    XXIII2(a)532n
    XXIII2(b)791n
    XXIV257n, 791n
    XXIV2(b)214n
    XXV257n
    XXVI1885
    XXVI2164n, 791n
    XXVI2(a)791n, 792
    XXVII1151n, 795n
    XXVIII31n, 60, 168n, 404n
    XXVIII(b)407n
    XXIX249, 393n
    XXX819
    XXX(b)788n
    XXX(c)196n, 423n, 787n
    XXX(d)(1–4)37, 171n
    XXX(e)205n
    XXX(f)193n, 420n, 450, 799n, 818n, 819, 830, 832, 837–38
    XXX(h)782n
    XXX(i)206n
    XXXI1887
    XXXI2886
    XXXI2(a)887–89
    XXXI2(g)574
    ScheduleParagraph
    A884–85, 887
    B7758n, 761n, 868n
    B7(b)122n, 464n
    C27, 121, 152, 154, 156–68, 191, 198, 220, 246, 284, 286, 533, 535, 566n, 574, 586, 631n, 663n, 692n, 696n
    C1156n, 157–58, 220n, 285n, 447n, 756n
    C2155n, 161n, 162n, 163n
    C3162n
    C4155n, 163n, 164n, 846n
    C5151n, 159n
    C6155n, 163n
    C7163n, 164n
    C8161n, 165n, 166n, 167n
    C9167n
    C10167n
    C11163n, 164n, 646n
    D541n
    D2399n
    D2(a)28, 464n, 568n
    F257n
    G257n
    G1369n
    G1(b)330n
    H257n
    H1(b)211n
    I257n
    J886
    J10886, 888–89
    K761n

    Index B. By-Laws and Rules and Regulations Cited

    Page references followed by the letter n refer to footnotes on the relevant pages.

    BY-LAWS
    SectionIssue DatePage
    15August 1, 1983389n
    RULES AND REGULATIONS
    RuleIssue DatePage
    B-6August 1, 1983716
    C-6August 1, 1983568
    D-1August 1, 1983877
    H-2January 1, 1981855n
    IAugust 1, 1983421n
    I-1 to I-8August 1, 1983426n
    I-10August 1, 1979372n
    July 1, 1982204n, 253
    J-1(a)July 1, 1978223n
    K-1August 1, 1983793
    K-2August 1, 1983795
    O-2January 1, 1981616n
    O-4July 1, 1978818n
    S-l to S-8August 1, 1983793
    T-lAugust 1, 1983378, 717

    Index C. Resolutions of Board of Governors and Decisions of Executive Board Cited

    Page references followed by the letter n refer to footnotes on relevant pages.

    DateResolutionPage
    Number
    October 2, 197429–825n, 32n, 399n, 527n, 541n,
    569n
    October 2, 197429–934n, 399n, 462n
    October 2, 197429–10107n
    March 22, 197631–2110n
    October 25, 197834–3355n
    Decision
    DateNumberPage
    September 26, 194671–281n, 475n, 545n, 639n
    December 18, 1947237–289n, 175n, 417n
    February 11, 1948269–2639n
    March 18, 1949411–193n
    June 10, 1949446–4879n
    February 13, 1952102–(52/11)437n
    August 14, 1952144–(52/51)74n, 175n
    May 4, 1953201–(53/29)175n
    June 22, 1955433–(55/42)175n
    July 25, 1956541–(56/39)73n, 174n
    June 26, 1957649–(57/33)89n, 175n, 417n
    July 24, 1959904–(59/32)159n, 639n
    October 23, 1959955–(59/45)175n
    June 1, 19601034–(60/27)65n, 172n, 175n, 555n, 556n
    July 28, 19611238–(61/43)858n
    January 5, 19621289–(62/l)23n, 24n, 50n, 265n, 324n,
    441n, 832n, 838
    July 9, 19621362–(62/32)50n, 441n, 838
    September 19, 19621415–(62/47)50n, 441 n, 838
    June 8, 19641712–(64/29)441n
    October 15, 19651951–(65/54)324n
    June 25, 19692772–(69/47)64n, 249, 786n
    September 15, 19692836–(69/87)787n
    October 17, 19692858–(69/96)324n
    December 30, 19692914–(69/127)745n
    October 26, 19703153–(70/95)175n
    November 25, 19703179–(70/102)64n, 249, 786n
    June 21, 19713351–(71/51)64n, 249, 786n
    December 18, 19713463–(71/126)97n, 159n, 271n, 582n, 639n
    November 7, 19734083–(73/104)97n, 159n, 639n
    January 23, 19744134–(74/4)175n
    June 13, 19744241–(74/67)24n, 64n
    June 13, 19744242–(74/67)24n, 123n, 127n, 128n, 280n,
    441n, 639n, 872n
    September 13, 19744377–(74/114)64n, 419n, 470n, 787n
    September 20, 19744393–(74/121)24n
    October 23, 19744421–(74/132)50n, 324n, 441n, 833n, 838
    November 6, 19744490–(74/140)24n, 441n
    December 4, 19744529–(74/153)24n
    April 4, 19754634–(75/47)24n
    April 4, 19754635–(75/47)24n, 441n, 872n
    April 4, 19754636–(75/47)24n, 441n
    July 2, 19754720–(75/114)787n
    July 11, 19754741–(75/120)24n, 441n, 872n
    July 28, 19754769–(75/133)24n
    August 1, 19754773–(75/136)399n, 783n, 864n
    December 24, 19754913–(75/207)64n, 249, 786n
    December 24, 19754916–(75/208)24n, 441n, 872n
    December 24, 19754917–(75/208)24n, 441n
    December 24, 19754918–(75/208)24n, 441n
    December 24, 19754919–(75/208)24n, 441n
    February 11, 19764954–(76/16)24n
    May 5, 19765069–(76/72)399n, 430n, 783n, 862n, 864n,
    874–75
    June 23, 19765127–(76/91)64n, 249, 786n
    September 20, 19765220–(76/144)470n, 787n
    December 22, 19765288–(76/167)47n, 441n
    January 3, 19775306–(77/2)47n, 441n
    January 31, 19775331–(77/15)47n, 441n
    April 8, 19775371–(77/51)787n
    April 25, 19775387–(77/61)47n, 441n
    April 29, 19775392–(77/63)10n, 11n, 42n, 67n, 116n,
    117n, 124n, 199n, 280n, 302n,
    542n, 543n, 546n, 556n, 567n,
    569n, 570n, 621n
    June 10, 19775441–(77/84)24n, 441n
    August 1, 19775488–(77/116)47n, 441n
    August 29, 19775508–(77/127)24n, 787n
    August 29, 19775509–(77/127)24n, 441n
    October 28, 19775563–(77/150)TR399n, 783n, 875
    December 5, 19775590–(77/163)137n, 613n
    December 5, 19775591–(77/163)787n
    December 16, 19775597–(77/171)24n, 64n, 249n, 786n
    March 17, 19785694–(78/35)399n, 783n
    March 22, 19785703–(78/39)785n
    March 22, 19785704–(78/39)785n
    March 22, 19785706–(78/39)787n
    March 23, 19785709–(78/41)TR399n, 783n, 875
    March 23, 19785712–(78/41)116n
    March 31, 19785719–(78/46)800n
    June 2, 19785792–(78/79)50n, 441n, 838
    June 12, 19785809–(78/88)785n
    June 26, 19785832–(78/95)TR399n, 783n, 875
    October 25, 19785936–(78/168)S369n
    December 4, 19785972–(78/189)399n, 783n, 875
    December 4, 19785973–(78/189)TR399n, 783n, 875
    December 4, 19785974–(78/190)24n, 441n
    December 28, 19786000–(79/l)S206n, 235n
    December 28, 19786001–(79/l)S206n, 235n
    January 5, 19796006–(79/3)441n
    January 5, 19796008–(79/3)24n, 441n
    January 22, 19796026–(79/13)116n, 118n, 542n, 556n
    February 26, 19796053–(79/34)S206n
    February 26, 19796054–(79/34)S206n, 235n
    March 21, 19796068–(79/47)441n
    June 1, 19796140–(79/85)470n, 787n
    June 21, 19796163–(79/96)24n, 441n
    June 28, 19796172–(79/101)785n
    July 23, 19796201–(79/121)TR399n, 783n, 875
    July 23, 19796202–(79/121)TR399n, 783n, 875
    August 2, 19796224–(79/135)64n, 249, 786n
    August 3, 19796230–(79/140)786n, 787n
    August 24, 19796241–(79/144)50n, 441n, 838
    November 28, 19796336–(79/178)S206n
    November 28, 19796337–(79/178)S206n
    December 3, 19796339–(79/179)64n, 419n, 470n, 787n
    December 19, 19796358–(79/188)TR399n, 783n, 875
    March 5, 19806437–(80/37)S206n
    March 5, 19806438–(80/37)S206n, 235n
    March 11, 19806445–(80/43)24n
    April 9, 19806466–(80/68)TR399n, 783n, 875
    April 14, 19806467–(80/71)S207n
    April 18, 19806485–(80/77)S47n
    June 25, 19806540–(80/98)TR399n, 783n, 875
    September 17, 19806631–(80/145)G/S204n
    October 31, 19806663–(80/160)S785n
    November 19, 19806676–(80/168)TR399n, 783n, 875
    December 8, 19806693–(80/177)24n
    December 17, 19806704–(80/185)TR399n, 783n, 875
    December 17, 19806683–(80/185)G/TR399n, 783n, 784n, 875
    January 9, 19816725–(81/5)24n
    January 12, 19816726–(81/7)470n, 787n
    March 11, 19816783–(81/40)24n, 787n
    March 20, 19816790–(81/43)89n, 133n, 175n, 417n
    March 25, 19816793–(81/45)399n, 783n, 875
    April 22, 19816830–(81/65)64n, 419n, 452, 470n, 787n
    April 22, 19816831–(81/65)423n, 452, 785n
    April 22, 19816832–(81/65)S205n
    April 29, 19816838–(81/70)251, 787n
    April 30, 19816842–(81/71)399n
    May 5, 19816844–(81/75)24n, 202n, 441n, 784n
    May 5, 19816845–(81/75)441n, 430n, 784n
    May 6, 19816843–(81/75)24n, 202n, 441n, 718, 838
    May 8, 19816854–(81/78)SBS399n, 783n, 875
    May 13, 19816860–(81/81)64n, 249, 786n, 787n
    May 13, 19816862–(81/81)785n
    May 13, 19816863–(81/81)24n, 202n, 441, 718
    May 13, 19816864–(81/81)24n, 441 n, 676n
    June 1, 19816870–(81/83)24n, 202n, 441n
    August 3, 19816925–(81/112)441n
    January 3, 19827040–(82/7)441n, 476
    February 22, 19827059–(82/23)423n, 452, 785n
    April 9, 19827088–(82/44)47n, 544n
    April 30, 19827104–(82/63)399n
    June 18, 19827142–(82/85)TR399n, 783n, 875
    July 7, 19827157–(82/93)787n
    August 4, 19827179–(82/102)SBS399n, 783n, 875
    August 20, 19827188–(82/114)441n, 784n, 838
    November 12, 19827246–(82/147)249, 786n
    November 12, 19827247–(82/147)249, 786n
    February 24, 19837337–(83/37)24n, 248–49, 441n, 838
    March 28, 19837374–(83/55)578
    December 23, 19837589–(83/181)477

    Index D. Table of Cases Cited

    Page references followed by the letter n refer to footnotes on the relevant pages.

    Page
    Case Concerning the Payment of Various Serbian Loans Issued in France (“Serbian Loans Case”)
    [1929] P.C.I.J., Series A, Nos. 20/21, 44625
    Constitutional Council of France
    Judgment of April 29, 1978, Journal Officiel, April 30, 1978, 1942167, 168, 618
    James Buchanan Co. Ltd., v. Babco Forwarding and Shipping (U.K.) Ltd.
    [1977] 3 W.L.R. 9076n
    Tito and others v. Waddell and others (No. 2)
    [1977] 3 All ER 129863n, 864n,
    873n
    Trans World Airlines, Inc., v. Franklin Mint Corporation et al
    690 F. 2d 303 (2nd Cir., 1982); 52 LW 4445622, 718, 777

    Index E. Names

    References to the author’s works have not been included in this Index.

    Name Page

    A

    • Abraham, Filip 720

    • Abraham, Jean Paul 720

    • Acton, Lord 8

    • Altman, Oscar L. 312, 319

    • Anderson, Sir John 853, 854, 880

    • Ando, Hiroshi 522

    • Angell, James 319

    • Anjaria, Shailendra J. 654

    • Arnold, Elting 867

    • Artus, Jacques R. 125, 129, 565, 566

    • Asher, Robert E. 459, 460, 462, 465, 466, 467, 473

    • Atkinson, Caroline 772

    B

    • Baade, Hans W. 516

    • Baumgartner, Wilfrid 492, 494, 496, 505–507

    • Bergsten, C. Fred 201

    • Bernstein, Edward M. 71, 88, 89, 311, 312, 314, 317, 319, 328–29, 331, 625, 773

    • Beyen, Johan W. 46, 76

    • Blum, John M. 465, 882

    • Blumenthal, Ralph 3

    • Blumenthal, W. Michael 290, 291, 292, 293, 302, 549, 608

    • Brau, Edward 543

    • Brenner, M. 571

    • Brittan, Samuel 773

    • Brodsky, David A. 222, 767, 776

    • Burke, Edmund 843

    • Burns, Arthur F. 54, 524, 547, 578

    C

    • Camps, Miriam 476

    • Carr, Jonathan 145

    • Carter, President [James E.] 3, 548, 764

    • Catto, Lord 93, 849

    • Chi Peng-fei 883

    • Chown, John F. 552

    • Chrystal, K.A. 215

    • Churchill, Sir Winston 20

    • Coats, Warren L., Jr. 254, 709

    • Collyns, Charles 645

    • Connally, John 94–96, 523, 576, 577

    • Coombs, Charles A. 50, 742, 743

    • Cooper, Richard N. 4, 127, 546

    • Cowell, Alan 46

    • Crockett, Andrew D. 125, 565, 566

    D

    • Dam, Kenneth W. 9, 98, 99, 385, 454, 455, 522, 523, 525

    • de Groote, Jacques 348–49

    • de Larosière, Jacques 213, 214, 302, 332, 354–55, 434, 460, 471, 544, 760, 769

    • Deniau, Jean-François 564

    • de Strycker, C. 143

    • de Vries, Margaret G. 88

    • de Vries, Tom 54, 526, 564, 621

    • Dickerson, Reed 4, 5

    • Dillon, Douglas 483

    • Dini, Lamberto 653

    • Dixon, H. Joly 672, 673

    • Dreyer, Jacob S. 129, 588

    • Dreyer, Peter 714

    E

    • Eden, Anthony (Lord Avon) 20, 843

    • Edwards, Richard W., Jr. 532, 583

    • Effros, Robert C. 139, 140, 698

    • Eken, Sena 654

    • Elias, T. 855

    • Emminger, Otmar 71, 275, 552

    • Eskridge, W.N., Jr. 54

    • Evans, Owen 654, 719

    F

    • Fallon, Padraic 374

    • Fernandez, Gerard, Jr. 766

    • Ferras, Gabriel 742

    • Focsaneanu, Lazar 39, 40, 70

    • Fowler, Henry H. 348–49

    • Friedman, Milton 45

    • Fry, Christopher 2

    • Funk, Walther 19

    G

    • Gamble, J.K., Jr. 56

    • Gardner, Richard N. 21, 454

    • Gardner, W.R. 81

    • Ghiles, Francis 766

    • Giscard d’Estaing, Valéry 45, 70, 273, 274, 303, 496

    • Gleske, Leonhard 720

    • Goreux, Louis M. 64, 439, 786

    • Graham, F.D. 846

    • Gowa, Joanne 577

    • Gramlich, Von L. 54

    • Greene, Margaret L. 55

    • Greenwood, Alan 4

    • Grubel, Herbert G. 319, 328

    • Guimbretière, Pierre 700

    • Guindey, Guillaume 71

    • Guitián, Manuel 18, 436, 457, 566, 663, 785

    • Guth, Wilfried 71, 478, 481, 484, 486

    H

    • Haberler, Gottfried 129, 588

    • Halifax, Lord 20, 843

    • Harrod, Roy F. 21, 842

    • Hawkins, Robert G. 312, 319, 323

    • Heller, H.R. 199

    • Henkin, Louis 525

    • Hopkins, Harry 20

    • Hopkins, Sir Richard 843, 847

    • Horn, Norbert 516

    • Hudec, Robert E. 454

    I

    • Ionesco, E. 72

    J

    • Jackson, John H. 57, 454

    • Jacobsson, Erin E. 23, 478, 483, 879

    • Jacobsson, Per 478, 480–83, 488, 496, 504

    • James, Henry 123

    • Jenks, C. Wilfred 869, 878

    • Johnson, Harry G. 319

    K

    • Kenen, Peter B. 202, 254, 551

    • Kennedy, President [John F.] 264, 480

    • Keynes, Lord (John Maynard Keynes) 10, 18–22, 38, 46, 76, 84–85, 92–93, 160, 259, 260, 296, 314–15, 317, 385–86, 408, 443, 453, 455, 459, 462, 475, 625, 775, 841–61, 880

    • Kahn, M.S. 199

    • Kirbyshire, John 557

    • Kreidmann, Arthur M. 773

    L

    • Lacroix-Destree, Yvonne 720

    • Laker, John F. 654

    • Lamfalussy, Alexandre 143

    • Law, Richard Kidston 845

    • Lehrman, Lewis E. 774

    • Leith-Ross, Sir Frederick 843

    • Lever, Lord (Harold Lever) 298

    • Levine, David S. 2

    • Leutwiler, Fritz 551

    • Lipschitz, Leslie 614

    • Lowenfeld, Andreas F. 9

    Mc

    • McKinnon, Ronald 654

    • McLenaghan, John B. 654

    • McMahon, Christopher W. 200, 708, 726

    • McNamara, Robert S. 471

    M

    • Machlup, Fritz 328

    • Maciejewski, Edouard B. 251

    • Mann, F.A. 56, 57

    • Marsh, David 202, 374, 767, 770, 771, 775

    • Marshall, Alfred 625, 843

    • Mason, Edward S. 459, 460, 462, 465, 466, 467, 473

    • Matthoefer, Hans 365

    • Maudling, Reginald 324, 326

    • Meade, James E. 328

    • Merren, Orren 699

    • Mill, J.S. 843

    • Miller, G. William 290, 304, 305, 549

    • Millus, Albert J. 3

    • Mitterand, François 561

    • Morgenthau, Henry, Jr. 21, 853, 854, 882

    • Moss, Frank 720

    • Mundell, Robert A. 127, 210, 328, 546, 551

    • Murphy, J. Carter 718

    N

    • Nelson, George U., III 43

    • Nicolas, P.Y. 140

    • Nicolson, Harold 19–20, 842

    • Nixon, President [Richard M.] 18, 94–96, 268, 333, 410, 520, 576, 578, 582, 751

    • Nott, John 2

    • Nowzad, Bahram 470

    • Nsouli, Saleh M. 654

    • Nyberg, Peter 654, 719

    O

    • Obeyesekere, Stanley C.A. 876–89

    • Odell, John S. 524, 578

    • Ossola, Rinaldo 327

    • Owen, Henry 562

    P

    • Padoa-Schioppa, Tomaso 142

    • Pandolfi, Filippo Maria 367

    • Pardee, Scott E. 561

    • Phillips, Sir Frederick 843

    • Pigou, A.C. 625

    • Plischke, Elmer 396

    • Pöhl, Karl O. 145, 201, 213, 536, 552

    • Polak, Jacques J. 127, 129, 157, 163, 210, 322, 546, 551, 557, 558

    R

    • Reagan, President [Ronald W.] 549

    • Regan, Donald T. 499, 553, 554, 560, 564, 776

    • Rendell, Robert S. 175

    • Reston, James B. 303

    • Rey, Jean-Jacques 149, 618, 695

    • Ricardo, David 843

    • Richardson, Lord (Gordon Richardson) 70–71, 551, 564, 726

    • Riechel, Klaus-Walter 654

    • Rieke, Wolfgang 683

    • Robertson, Dennis H. 843, 852, 853, 855

    • Robinson, J.V. 847

    • Rolfe, Sidney E. 312, 319, 323

    • Roosa, Robert V. 312, 323–24, 326, 328, 641

    • Roosevelt, President [Franklin D.] 20

    • Rotberg, Eugene H. 459, 460

    • Ryan, Michael H. 618

    • Ryrie, W.S. (Sir William Ryrie) 70

    S

    • Safire, William 95, 523, 524, 525, 578

    • Salop, Joanne 149

    • Sampson, Gary P. 222, 767, 776

    • Savren, Clifford 5

    • Scammell, W.M. 43, 52, 69

    • Schachter, Oscar 515

    • Schermers, Henry G. 866

    • Schultz, George P. 547

    • Schuster, M.R. 53

    • Schweitzer, Pierre-Paul 497, 742, 743

    • Seidel, Martin 175

    • Seidl-Hohenveldern, Ignaz 515, 517

    • Sfeir, George N. 837

    • Shove, G. 843

    • Siegel, Alan 3

    • Silard, Stephen A. 63

    • Smith, Adam 843

    • Smith, Frederick C. 3, 11–14

    • Smits, René J.H. 643, 722

    • Sobol, Dorothy Meadow 315, 699, 702

    • Solomon, Anthony M. 287, 288, 289, 291, 293, 294, 362, 365, 367, 374

    • Solomon, Robert 52, 69, 99, 129, 327, 332, 333, 740, 743, 773

    • Southard, Frank A., Jr. 69

    • Sprinkel, B.W. 129, 549

    • Stein, Eric 624

    • Sundararajan, V. 614

    • Suss, E.C. 199

    • Sutherland, C.H.V. 723

    T

    • Tait, Robin Trevor 837

    • Thatcher, Margaret 560

    • Thirlwall, Anthony P. 842

    • Thygesen, Niels 143

    • Trezise, Philip H. 143, 708

    • Triffin, Robert 60, 143, 314, 316, 318, 319–22, 326, 329, 444, 660, 662

    • Truman, President [Harry S.] 882

    • Tsiang, S.C. 81

    • Twain, Mark 71

    U

    • Ungerer, Horst 143, 654, 664, 719

    V

    • Vanden Abeele, Michel 664

    • van Ypersele de Strihou, Jacques 143, 232, 664

    • van’t Veer, A. 315

    • Vogl, Frank 774

    • Volcker, Paul 524, 576–77

    • von Furstenberg, George M. 254

    W

    • Wagner, Richard 71

    • Wagner, Robert F. 882

    • Waldheim, Kurt 883

    • Wallich, Henry C. 202, 319, 356, 377, 550, 880

    • Weeks, Edward 123

    • Wels, Alena 714, 715

    • Werner, Pierre 664

    • White, Harry Dexter 3, 11–14, 18–19, 21, 38, 46, 76, 78, 84, 92, 259–60, 294, 296, 384–85, 408, 443, 455, 630, 645, 843, 845, 850, 853–55

    • Widman, F. Lisle 377, 576, 641, 775

    • Willett, Thomas D. 44, 129, 588

    • Williams, John H. 128

    • Williams, Richard C. 470

    • Williamson, John 99, 143, 641, 718

    • Witteveen, H. Johannes 29, 350, 378, 608, 706

    • Wolcott, Jesse 859

    • Wood, Sir Kingsley 20

    • Wragg, Lawrence de V. 699

    • Wyatt, Derrick 532

    • Wyles, John 714

    Y

    • Yeager, Leland B. 319

    • Yeo, Edwin H., III 72, 545

    • Young, J.H. 116, 129

    • Young, John Parke 41

    Z

    • Zolotas, Xenophon 319

    Index F: Subjects

    References are to pages.

    A

    • Accounts of Fund,see Subsidy Account; Substitution Account; Suspense Account

    • Adjustment Process,see Balance of Payments

    • Amendment,see Articles of Agreement of the Fund

    • American Bankers Association, 465

    • American Republics, 388

    • Arab Monetary Fund, Arab dinar, 594, 600

    • Articles of Agreement of the Fund

      • Amendment: 30-31, 33, 36, 41, 97, 110, 168, 215, 404, 498, 521, 531, 538, 541, 583, 708, 710, 773;

        • comprehensive, 110;

        • Substitution Account, 342

      • Article IV: 527;

        • and legal analogies, 536;

        • attitude of U.S. to consultations under, 559;

        • attitude to consultations under, 559;

        • collaboration under, 533;

        • consultations under, 302, 556;

        • deterrence of breach under, 538;

        • drafting of, 528;

        • example of conclusions of consultation under, 574;

        • majorities for some decisions under, 533;

        • negotiation of, 525;

        • obligations to collaborate under, 554;

        • original draft of, 529;

        • publication of conclusions of consultations under, 569-70;

        • purpose of international monetary system, 458; role of Section 2(b) in evolution of international monetary system, 363;

        • safeguards against softness of, 540; soft provisions of, 530; subsequent objection compared with advance approval, 539;

        • symmetry, 401;

        • text of, 572;

        • U.S. views, 535

      • Article V, Section 2(b), 363

      • Article VIII: Section 2(a), Keynes and controversy about, 852;

        • Section 4, Keynes and controversy about, 852;

        • symbolism of, 189;

        • Section 7, 366

      • Central role, 240

      • Compatibility with, 59

      • Consistency with, 240

      • International monetary system, reference to, 26

      • Par values under Schedule C, 121

      • Second Amendment: 108;

        • Article IV, 279;

        • exchange arrangements under, 278;

        • flexibility of, 653;

        • gold and, 754;

        • Report on Proposed, 153, 283, 816, 819, 871, 885;

        • Schedule C, 284;

        • substitution in negotiation of, 341

      • Terminology on membership, 877

      • See also Index A

    • Asian Monetary Unit (AMU), 594, 599

    • Asset Settlement, 183, 186, 237, 246, 276, 334, 347, 364, 584, 708

      • Approaches to, 335

    • Asymmetry, 100, 103, 123, 237, 242, 263, 268, 270, 285, 294, 299, 649, 730

      • Reduction in, 258

      • U.S. view, 272

    • Atlantic City Conference (1944), 883

    • Austria, 482

    B

    • Bahrain, 691

    • Balance of Payments, 61-62

      • Accounting, 62

      • Adjustment: 107, 121, 199;

        • process, 3335, 44, 50, 267, 275;

        • report on, 299. See also Outline of Reform (June 14, 1974)

      • Benign neglect of, 265, 289

      • Borrowing for, 199

      • Commercial policy, 66

      • Compatibility among objectives, 300

      • Deficits and surpluses, 99, 101

      • Deficits in U.S., 479

      • Disequilibria, 51

      • Equilibrium, definition of, 99

      • Purposes and effects, 67, 133, 240

      • Reasons, 65

      • Report on Balance of Payments Adjustment Process, 299

      • Responsibility for adjustment, 101

      • Settlement, 183

    • Bancor, 38, 315, 317, 443, 850

    • Bank for International Settlements (BIS), 6, 263, 311, 321, 742, 869, 875, 879

    • Banks, Central, 55

      • Agreements, 54, 745

    • Banks, Commercial

      • Scope of protection under stand-by arrangement, 800

      • Terms of loan agreements: compulsory withdrawal from Fund, 792;

        • eligibility under Fund’s Articles, 794;

        • “entitled” to make purchases from Fund, 797;

        • “good standing” in Fund, 792;

        • ineligibility under Articles, 792;

        • membership in Fund, 790;

        • participation in SDR Department, 791;

        • purchases made from Fund, 798;

        • references to stand-by arrangements, 781;

        • SDRs, 801;

        • specified currency of purchase from Fund, 799;

        • stand-by arrangement in effect, 794;

        • waivers by Fund, 797

    • Baumgartner Letter, 497, 507-508

      • Switzerland and, 505-506

    • Belgium, 321, 484, 652, 700, 741, 814. See also European Monetary System

    • Bernstein’s Reserve Settlement Account, 328

    • Board of Governors, Fund, 383

      • Committee on Interpretation: 393;

        • composition of, 395;

        • unsettled questions of procedure, 394;

        • voting power in, 394

      • Inaugural Meeting of Board of Governors, Savannah, Georgia, 877

      • Resolutions of, see Index C

    • Bonn Summit, 562

    • Bremen Communiqué, 143

    • Bretton Woods Agreements Act (United States), 3, 296, 465, 880

    • Bretton Woods Conference, 8, 13, 22, 76, 78, 84, 93, 98, 260, 305, 382, 386, 406, 453, 460, 463, 466, 517, 519, 625, 647, 661, 855, 859, 877

    • Buffer Stock Financing, 64, 399, 785

      • Agreements, effect of changes in exchange rates, 603

    • Burma, 691

    • By-Laws of Fund,see Index B

    C

    • Camp David (August 1971), 523

    • Canada, 386, 484, 499, 553, 648-49, 831

    • Capital Markets, recourse to private, 452

    • Capital Movements, 37, 41-43, 51, 57, 62, 71, 73, 83, 106, 135, 160, 173, 175, 479, 482, 810

      • Short-term, 479, 485

    • Capital Transfers, 22

      • Discrimination in controls, 174

      • Multiple rate for, 174

    • Cases Cited,see Index D

    • “Catto Clause,” 93, 164

    • Central Rates: 109, 111, 114;

      • and target zones, characteristics of regulation of, 638;

      • and wider margins, 271, 582. See also Exchange Rates

    • Charges on Use of Fund’s Resources: 424;

      • floating, 426;

      • progressive, 426

    • China, 387, 406, 883

      • Representation in Fund, 388

    • Collaboration of Members with Fund, 6, 119, 278, 286, 307, 420, 455, 545, 639, 641, 817-18

    • Comecon Countries, 45

    • Committee on Interpretation of Board of Governors,see Board of Governors, Fund

    • Committee on Reform of the International Monetary System and Related Issues (Committee of Twenty), 25, 29, 41-42, 45, 66, 98, 104, 146, 183, 185, 236, 242, 258, 270, 275, 301, 311, 352, 364, 368, 386, 395, 398, 402, 411, 498, 509, 526, 537, 539, 583, 620, 632, 651, 706, 751. See also Outline of Reform (June 14, 1974)

    • Commodities, 64

    • Common Denominator, 98, 106, 113, 136, 138, 141, 150, 156-57, 163, 176, 216, 261, 285-86, 412, 447, 581

    • Communiqués, role and effect, 239, 364, 559

    • Compensatory Financing Facility, 64, 256, 399, 435, 439, 786

    • Composite or Collective Reserve Unit (CRU), 311, 329

    • Concertation, 7, 148

    • Conditionally, 46, 265-66, 306, 423, 436, 457, 566, 663, 677, 785

      • Degrees of, 438

    • Confidentiality, 8

    • Consultations, 64, 76

      • Evaluation, 560

    • Convention Concerning International Transport by Rail, 621

    • Convertibility, 22, 41, 60, 80, 95, 102, 245, 256, 273, 281, 294, 334, 803, 821

      • Balances, 805

      • Capital, 178

      • Clauses not involving activities of Fund, 823

      • Concept in original Articles, 169

      • Criteria, 168, 804

      • Currency convertible in fact: 86, 181, 748;

        • exchange rates, 811

      • Definition, disappearance, 815

      • Drafting, implications, 819

      • End of official, 445

      • Exchange rates and, 809, 821

      • External, 22, 479

      • French view, 274

      • In fact, under First Amendment, 810

      • Language, disappearance of, 192

      • Market, 170, 179, 187, 189, 245, 282, 415, 807;

        • limitations on, 175

      • Official: 95-96, 153, 175, 184, 188, 245, 268, 282, 335, 356, 412, 415, 584, 743, 748, 761, 808;

        • characteristics of, 182

      • Original Articles, 805

      • Redemption of balances: 218, 267, 336;

        • through Fund, 190;

        • with SDRs, 180

      • Second Amendment, 815

      • Sufficient, 821

      • Voluntarism of, 183

      • With nonnational assets, 416

    • Council, Fund, 28-29, 35, 300-301, 383, 393, 399, 540, 568

      • Opposition of developing members to, 384

      • Terms of reference, 541

    • Credit Tranches, Fund, 422

    • Creditor Members of Fund, adjustment by, 260

    • Cross-Rates, broken, 131, 133

    • Currency

      • Authorization for floating, 105-106

      • Burden on issuers of reserve, 201

      • Common, 652

      • Convertible currency clauses: 803;

        • examples of, 823;

        • suggested drafting of, 828

      • Dependent territories, 647

      • Diversification of holdings of, 201

      • Exchanges between members, 429

      • Floating, 102, 112, 162, 199, 275

      • Freely usable: 192, 420, 429, 450, 799, 815, 830, 837;

        • definition of, 193, 818

      • General floating of, 96, 98

      • Guidelines for management of floating, 123

      • Maintenance of value: 137;

        • different meanings, 139

      • Member’s responsibility for its, 159, 241

      • Members’ authority over, 161

      • Pegged, 115, 128, 199

      • Reserve: 6, 41, 193, 197, 218-19, 235, 277, 286, 329;

        • emergence of, 293

      • Roosa Plan to increase number of reserve, 323

      • Secondary reserve, 262

      • Selection of, for sale by Fund, 196

      • Surveillance over holdings of reserve, 203

      • Use of all by Fund, 193

      • See also Exchange Rates and specific currencies

    • Currencies of Receipt, prescription of, 173

    • Current International Transactions, payments and transfers for, 37, 56, 171, 177

    D

    • Decisions of Executive Board and Resolutions of Board of Governors of Fund,see Index C

    • Denominator, 114, 125, 128, 584

      • Distinguished from unit of account, 691

    • Dependent Territories, currencies of, 647

    • Depreciation, competitive, 87, 155, 414, 579

    • Deutsche Mark, 193, 201, 299, 356, 482, 487

    • Devaluations

      • And revaluations, balance between, 300

      • Competitive, 79, 100

    • Development, 63, 122

    • Development Assistance, 33, 41

    • Development Committee (Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfers of Real Resources to Developing Countries), 34, 47, 395, 399, 402, 462, 470

    • Discrimination, 87, 99, 255, 301

    • Discriminatory Currency Arrangements, 37, 73, 89, 115, 133, 161, 173, 251, 417, 585, 629, 808

    • Disequilibrium, Fundamental,see Fundamental Disequilibrium

    • Disorderly Conditions, 124, 134-35, 290, 548, 553

      • Evidence of, 550

    E

    • Economic Fundamentals, 291

    • Economic Programs, 42, 457

    • Economic Report of U.S. President, 39

    • Economies, command and market, 45

    • Equilibrium, U.S. definition, 300

    • Erratic Fluctuations, 289, 548

    • Euromarkets, 237

    • European Community (EC), 10, 405

      • Action of March 12, 1973, 582

      • Liaison with Fund, 570

    • European Currency Unit (ECU), 13738, 144, 150, 200, 223, 227, 244, 247, 253, 292, 309, 358, 599, 613, 617, 642, 659

      • Acceptance limit, 680, 683

      • Accounting for, 361

      • Acquisition for settlements, 681, 683

      • Amounts created as monetary reserve assets, 667

      • As currency, 720

      • Bundesbank, attitude of, 720

      • Central rates in terms of, 145, 358

      • Changes: in basket, 358;

        • legal requirements for, 710

      • Characteristics and uses, possible improvements in, 710

      • Commission of Community, 704

      • Commission of European Community to Council, report of March 2, 1984, 718

      • Comparison with SDRs, 234

      • Composition, 597

      • Consequences of crossing divergence threshold, 694

      • Conversions by issuer, 679

      • Currency transactions, 704

      • Development: 232;

        • impediments, 714

      • Distribution of holdings, 683

      • Divergence indicator, 693

      • Divergence threshold, formula for, 694

      • Effect of change in central rate, 693

      • Effect of regional character, 686

      • Effect on allocations of SDRs, 233, 685

      • Effect on role of SDRs, 686

      • Exchanges, 231

      • France, 720

      • Germany, Federal Republic of and: 720;

        • and indexation, 704

      • Holders of: 676;

        • as portfolio assets, 690

      • Indexation, 721

      • Interest and charges, 229, 685

      • Italy and, 703, 720

      • Liquidation, 689

      • Liquidity, 234

      • Means of payment, 702

      • Monetary reserve assets: method of valuation, 672;

        • origins, 663

      • Nomenclature, 659

      • Political appeal, 665

      • Private uses: effect of monetary and foreign exchange restrictions, 703;

        • official encouragement, 703;

        • unit of account, 700

      • Recommendation of Council, May 24, 1984, 720

      • Renewal of swaps, 679

      • Reserve assets, 710

      • Role as denominator in European Monetary System, 692

      • Settlements: 229;

        • of intraorganizational obligations, 696

      • Symbolism, 710, 721

      • Ties with SDRs, 235

      • Transfers: of reserve position in Fund in settlements involving, 687;

        • to change composition of reserves, 679, 683

      • Treatment as currency, 703

      • Unit of account, 699

      • Unwinding of swaps, 679

      • Uses: 678;

        • of SDRs or SDR-denominated assets in settlements involving, 687;

        • volume, 719

      • Variation in existing volume, 669

      • Very short-term facility, 685

    • European Currency Units and SDRs Clearing institutions, 702

    • European Investment Bank, 56

    • European Members, 263

    • European Monetary Cooperation Fund (EMCF), 59, 227, 229, 231–34, 359, 617, 668, 670, 678–79, 681, 687, 722

    • European Monetary System (EMS), 7, 37, 129, 135, 138, 142, 154, 200, 223, 227, 244, 247, 253, 291, 305, 357, 557, 570, 617, 619, 642, 650, 652, 664, 770

      • Central rate change, legal effect in absence of common consent, 643

      • Collective decisions under, 653

      • Contributions, legal aspects of, 670

      • Divergence indicator, 137, 146, 149, 292, 620, 654

      • Divergence threshold, 146

      • Economic Union of Belgium and Luxembourg (BLEU) and, 652

      • External relations, 148

      • Financing intervention, 229, 231, 359

      • Gold: 232;

        • valuation of, 228, 617

      • Intervention, 229–31, 679

      • Legal framework, 143

      • Liquidation, 232

      • Margins for exchange rates, 145, 359

      • Ownership of contributions, 361

      • Parity and basket solutions, 147

      • Policies, convergence of, 713

      • Reserves, changes in composition, 231

      • Settlements: 229–30, 359;

        • under very short-term facility, 680, 683

      • Substitution under, 359

      • Swaps: arrangements, 670;

        • revolving, 360;

        • unwinding, 231

      • Symmetry in, 292

      • United Kingdom and, 654

      • Working balances, 680

    • European Payments Union (EPU), 60, 479, 481

    • European Unit of Account (EUA), 144–45, 358, 597–98

    • Exchange Alterations, competitive, 81, 126, 158

    • Exchange Arrangements, 9, 27, 120, 124

      • Categories, 586, 636

      • Changes in: 585;

        • information on, 250

      • Classification, 250

      • Cooperative arrangements, 142

      • Coordination, political possibilities for, 561

      • Developing substantive law, 566

      • Freedom to choose, 111, 113, 124

      • General, 114, 149, 152, 158, 283, 413, 586

      • Information, 61

      • Legal effectiveness, 647

      • Margins, suspension of, 108

      • Permanent obligations, 121

      • Persistence of ideas, 413

      • Present effects on international law, 136

      • Present law, 108

      • Strengthening procedures relating to, 567

      • U.S. dollar, exchange rate, 228

      • U.S. veto over decisions on, 534

      • Use of Fund’s resources and, 566

      • Variety of, 115

    • Exchange Contracts, unenforceability of certain, 879

    • Exchange Control, 20

    • Exchange Developments, “importance” of, 118

    • Exchange Markets, disorderly conditions, 199

    • Exchange Measures, motives for, 90

    • Exchange Rates, 9, 41, 49, 120

      • Band for, 101

      • “Behavior,” 118

      • Central rates and wider margins, 97, 159

      • Changes in real effective, 250–51

      • Choice of, 140

      • Competitive exchange alterations, 81, 126, 158

      • Differences between United States and Europe, 526

      • Diversified intervention, 694

      • Division of authority over, 92

      • Effective, 127, 137, 615

      • “Erratic disruptions,” 120, 548

      • Essential characteristics of regulation of, 626

      • Fixed, 82, 87, 127, 159

      • Floating, 86, 89, 128, 160

      • Guidelines for management of floating, 127–28, 280, 399, 545, 547, 639, 649

      • Imposed, 645

      • International concern, 77, 113, 154

      • International Monetary Fund: regulatory authority over, 407;

        • technical assistance by, 621

    • International supervision of, 74

    • Intervention: 49, 84–85, 97, 101, 105, 111, 120, 124, 129, 134–35, 145, 147, 153, 178, 180, 184, 199, 202, 215–16, 229, 258, 262–63, 270, 273, 277, 281, 325, 409, 416, 548, 550, 552, 565, 576, 644, 661, 678, 702, 729;

      • by United States in 1978, 289;

      • currencies, 730;

      • diversified, 148;

      • report on, 571

    • Legal regimes, coexistence of, 652

    • Manipulation of, 126, 158

    • Margins: 88, 101, 105–106, 119, 123, 130, 133, 159, 161, 166–67, 174, 178, 203, 261, 270, 278;

      • of variation tolerated under treaties, 611;

      • suspension of, 151

    • Measurement of variation on: 136;

      • under GATT, 613;

      • under treaties, 612–13

    • Medium-term norm, 640

    • Members’ authority, 92, 134

    • Members’ obligations, 120, 412

    • Overshooting, 129, 563

    • Policies: 120, 124;

      • Carter Administration’s, 548;

      • consultation on, 116;

      • convergence, 129, 135;

      • coordination, 129;

      • Fund’s three principles for guidance of, 546;

      • Guideline B on intervention, 546;

      • information, 116;

      • limitations on principles for guidance of, 565;

      • majorities for decision on, 115;

      • Reagan Administration’s, 549;

      • specific principles for guidance of, 115–16, 123–25, 158, 280–81, 305, 531, 545, 565;

      • surveillance of, 42, 47, 67, 110–11, 116, 126, 134, 165, 250, 280, 302, 304, 391, 439, 542

    • Pooling of authority, 141

    • Present law on: 113;

      • principles of, 243

    • Prior and subsequent approvals, 66

    • Provisions: European Community, power of veto under, 285;

      • U.S. power of veto under, 285

    • Realignment of, 97

    • Regulation: 624;

      • characteristics under EMS, 642;

      • characteristics under present law, 635;

      • general reflections on, 650

    • Responsibility for, 96, 408

    • “Right” and “wrong,” 291, 547, 549

    • Role of, report on, 80, 240

    • Sovereignty and, 625

    • Spreads in, 131

    • Stability of: 26, 111, 119, 158;

      • without rigidity, 119, 156

    • “Stable system of,” 414

    • Support for target zones, 641

    • Surveillance of, 199, 412, 585

    • “System” of, 120

    • Treaties: adaptation, to accord with Changes, 603;

      • averaging under, 609;

      • effects of variable on, 580;

      • legal models for dealing with variability under, 620;

      • margins of variation tolerated under, 611

    • “Underlying conditions,” 119

    • Unfair competitive advantage, 135, 301

    • Unitary floating, 87–88

    • Variability: as deterrent to obligations to maintain value, 608;

      • types of, 588

    • Volatility, effects on, 70, 551

    • See also Central Rates;

      • Exchange Arrangements;

        • Par Values;

        • United States

    • Exchange Regimes

      • Compromise on, 112

      • European views on, 111

      • Proposals for, 108

    • Exchange Transactions

      • Forward, 160

      • Margins for, 82–83

    • Executive Board, Fund, 884

      • Composition and functions, 31, 386, 388

      • Decisions, see Index C

      • Powers and role of, 389, 448, 451

    • Executive Directors, Fund

      • Additional appointments, 386, 450

      • Dual, 462

      • Policies on number of elective, 388

      • Role, 451

    • Export Shortfalls, compensatory financing, 397

    • Extended Fund Facility (Extended Arrangements): 63–64, 399, 437, 470, 787–88;

      • period of, 789

    • External Debt: 469;

      • crisis of, 306

    F

    • Federal Reserve Bank of New York, 741

    • First Amendment of the Fund’s Articles,see Articles of Agreement of the Fund

    • Food and Agriculture Organization, 466

    • “Forum Shopping,” 138, 582, 595, 698

    • Franc: French, 193, 200, 299;

      • Germinal, 138, 582, 697;

      • Poincaré, 138–39, 582, 596, 602, 674, 697;

      • Swiss, 201, 356

    • France, 85, 109, 150, 167, 195, 211, 262, 266, 274, 284, 321, 387, 420, 480, 483–84, 492, 496, 527, 530, 553, 649, 729, 741, 763, 799, 813, 817, 819, 881

      • Constitutional Council of, 167

      • European Currency Unit, 720

    • Freedom of Information Act of United States,see United States

    • Freely Usable Currency,see Currency

    • Fund, see International Monetary Fund

    • Fundamental Disequilibrium, 297, 414, 519

    G

    • General Agreement on Tariffs and Trade (GATT), 48, 57, 60, 66–67,132, 137, 239, 454, 539, 611

      • Par values under, 614

      • Specific duties under, 137

      • Tokyo Round, 616

    • General Arrangements to Borrow (GAB), 5, 23, 47, 50, 55, 248, 264, 324, 402, 441–42, 478, 832, 838

      • Adherences to, 503

      • Amendments, 499

      • As agreement: with Fund, 494;

        • under public international law, 495

      • Associated borrowing agreements, 506

      • Baumgartner letter and: 492, 496;

        • voting under, 493

      • Borrowing: for benefit of nonparticipants, 500;

        • to finance gold tranche transactions, 492

      • Conditionality and, 482, 493

      • Consultation under, 265

      • Cooperation under preamble, 488

      • Credit arrangements: calculation of, 484;

        • expression of, 487

      • Criteria for calls, 487–88

      • Currencies of repayment, 491

      • “Currency convertible in fact,” 489

      • Developing members and, 398

      • Early repayment, 490

      • Exclusiveness, 488

      • Form and legal character of, 494

      • Group of Ten and, 496

      • Importance, 508

      • Interest: increased rate, 499;

        • rate change under revised, 502–503

      • International Monetary Fund: influence on, 495;

        • later borrowing agreements, 495

      • International monetary system, impairment, 491

      • Negative pledge: maintenance under revised, 501;

        • purpose, 488

      • Negotiation, 483

      • Nonparticipants, attitudes of, 484

      • Original participants, 482

      • Original preamble, 485

      • Original rejection of reference to threat, 486

      • Original terms: 485;

        • on interest paid, 489

      • Origins, 479

      • Participant’s obligations: to consider lending, 487;

        • to provide own currency, 487

      • Practice under, 491

      • Procedures: among participants in, 492;

        • for calls under, 487

      • Protection of nonparticipants under revised, 501–502

      • Relation to other borrowing agreements under revised, 507

      • Repayment under, 489

      • Revision of: 248, 306, 500;

        • minimum credit arrangement, 500;

        • preamble, 500

      • Safeguards for lenders, 483

      • Saudi Arabia and, 507

      • SDR as unit of account, 499

      • Solidarity of participants, 491

      • Stipulation pour autrui and, 505

      • Substitute amounts under, 488

      • Switzerland and: 504;

        • participation of, 249

      • Threat, reference in revised, 501

      • Transfer charges: 491;

        • eliminated, 502

      • Transfer of claims under, 490

      • Uniformity, 306

      • Units of account in, 487, 500

      • U.S. proposal at Toronto Annual Meeting, 499

      • Voting under Baumgartner letter, 493

    • Germany, Federal Republic of, 147, 290, 293, 297, 321, 365, 387, 420, 478, 481–83, 527, 548, 551–53, 617, 648, 654, 714, 720, 741, 799, 814, 819, 881

      • Agreement on German External Debts, 74

      • European Currency Unit in: 720;

        • indexation of, 704

    • Germinal Francsee Franc

    • Global Reserves, 102, 163

      • Adequacy, 199

      • Increases in, 100

    • Gold, 6–8, 20, 41, 49, 74, 76, 82,113,125, 138, 140, 156, 163, 181–82, 184, 186, 188–89, 200, 203, 206, 208, 211, 216, 218, 230, 236, 247, 261, 279, 282, 286, 295, 309, 319, 360, 408, 423, 427, 429, 447, 480, 482, 484, 486, 491, 584, 670, 679, 681, 697, 706, 712, 723, 775

      • Activation through ECUs, 669

      • Agreement on, 112

      • As common denominator, 77, 220, 726

      • As denominator, 220

      • As ultimate reserve asset, 728, 731

      • Auctions, 6, 548

      • Clauses, 766

      • Collaboration, 755

      • Customary role, 725

      • Demonetization, 743

      • Denominator for domestic purposes, 756

      • European Monetary System: 227, 770;

        • in settlements, 771

      • Freely buying and selling, 82, 95–96, 136, 160, 176, 181, 183–84, 188, 216, 241, 261, 268, 273, 282, 333, 409, 415, 444, 518, 581, 728, 748, 769, 812

      • Function as legal fiction, 218

      • Group of Ten, interim arrangements, 752

      • Interim Committee: communiqué, August 31, 1975, 753;

        • compromise in, 759

      • International Monetary Fund: acceptance by, 761;

        • assured market in, 732;

        • currency holdings replenished with, 732;

        • disposition by, 448;

        • disposition of one third of holdings, 758;

        • liquidity and, 217, 221;

        • means of payment, 732;

        • no longer unit of account, 757;

        • obligation to purchase, 733;

        • obligation to sell, 760;

        • policy on premium sales, 738;

        • policy on purchases from South Africa, 734;

        • power to deal in, 758;

        • powers, implied, 760;

        • “restitution” of, 220, 226, 228, 759, 773

      • Intervention with, 225

      • Keynes on convertibility with, 84

      • London market, 735, 740, 742

      • Majorities for decisions relating to, 762

      • Maintenance of value of claims against Substitution Account, 772

      • Money supply and, 225

      • Obligations: discharge of, 220–21;

        • of Fund to purchase, 733;

        • of Fund to sell, 760;

        • relating to, 447

      • Official status, 221

      • Outline of Reform, 752, 755

      • Ownership, after substitution, 330, 348–49

      • Par value system, after collapse of, 750

      • Pledges and swaps of, 223, 227

      • Premium sales, 737

      • Prices: 83–84, 92, 220, 247;

        • abolition of official, 757;

        • change in First Amendment, 747;

        • consequences of floating, 222;

        • domestic, 223;

        • increases in official, 727, 739;

        • market, 222, 225, 236;

        • obligations on, 736;

        • official, 219

      • Private holding of, 766

      • Private markets in, 217, 734

      • Prohibited as denominator or common denominator of exchange arrangements, 756

      • Prohibited transactions, 736

      • Proposed Second Amendment, commentary on, 755

      • Purchases: by Fund to provide currency to member designated to receive SDRs, 750;

        • from domestic producers, 736;

        • sales and, 176

      • Reserve asset, “ultimate” or “primary,” 217

      • Revaluation profit, 767

      • Role of: 113;

        • ambiguity of gradual reduction, 755;

        • change in, 216, 247;

        • in future international monetary system, 224, 447;

        • reduced, 197, 209, 219, 331, 342, 447, 755

      • Sales: by Fund, 220;

        • by South Africa to Fund, 733;

        • by U.S. Treasury, 769;

        • for Trust Fund, 350

      • SDR: definition, 748;

        • substituted as unit of account, 757

      • Second Amendment and, 754

      • Secondary unit of account, 698

      • Substitution of, 236, 316

      • Supply, 217

      • Two-tier system: 332, 733, 742;

        • termination of, 744

      • Under Clearing Union, 315

      • Under First Amendment, 746

      • Under original Articles, 725

      • Under Outline of Reform, 219

      • Under Second Amendment, 219

      • United States: auctions, 548;

        • Congress and, 224;

        • transactions, 49, 661

      • Unresolved legal question under original Articles, 725

      • Uses: 254;

        • collateral by Fund, 760;

        • “unconventional,” 225

      • Valuation: 236, 766;

        • by Fund, 767;

        • impact of increase in price, 768;

        • judicial, 765;

        • of Fund’s holdings, 223;

        • of official holdings, 222, 767;

        • of U.S. holdings, 225;

        • under treaties, 222

    • Gold Commission of United States, see United States

    • Gold Consolidation Account: de Groote’s, 348;

      • Fowler’s 348

    • Gold Exchange Standard, 75, 80, 724, 731

    • Gold Pool, 49, 740

    • Gold Substitution Account, 343, 762

      • Assets, use in, 345

      • Marketing of gold in, 347

      • Use of assets, 345

      • Voting power and, 345

    • Gold Tranche, Fund, 7, 194, 196, 265, 422, 438, 451, 495, 785

    • Governors of Fund, see Board of Governors, Fund

    • Greece, 143, 673

    • Group of Eleven, 442, 506

    • Group of Five, 387

    • Group of Seventy-Seven, 397, 402, 498

      • Reform and, 368

    • Group of Ten, 23, 55, 237, 259, 270, 312, 327, 398, 402, 496

      • Agreement on gold, 342

      • Bonn meeting in 1968, 299

      • International monetary system and, 497

      • Official liquidity and, 497

      • Stockholm meeting, 497

    • Group of Thirty, 75

    • Group of Thirty-Two Economists, 44, 69, 309

    • Group of Twenty-Four, 366, 373, 402, 496

      • Composition, 498

      • Origins, 497

      • Terms of reference, 498

    • Growth, orderly economic, 123

    • Guidelines for Management of Floating Exchange Rates, see Exchange Rates

    • Guinea, 691

    • Guinea-Bissau, 691

    I

    • Inaugural Meeting of Board of Governors, Savannah, Georgia, see Board of Governors, Fund

    • India, 387, 396, 463

    • Indonesia, 647

    • Interconvertibility, 813, 816

    • Interim Committee, (Interim Committee of the Board of Governors [Fund] on the International Monetary System), 25, 29, 47, 122, 303, 307, 354, 362, 364, 369, 384, 395, 399, 402, 411, 471, 509, 527, 541, 562, 753

      • Communiqués, 112

      • Jamaica meeting, 112

      • Procedures, 569

      • Terms of reference, 31

    • Interim Period, 107–108

      • Abandonment, 108

      • Termination, 109

    • “International,” meaning, 44, 52

    • International Bank for Reconstruction and Development (IBRD), see World Bank

    • International Clearing Union Proposal for, 10, 18, 259, 315, 443, 455, 475, 775, 847

    • International Economic Jurisdiction, 453

    • International Monetary Fund (Fund), 17

      • Accounts under implied powers, 428

      • Activities, 18

      • Administered Accounts, 783

      • Agreements by other parties, application, 746

      • And balance of payments, 397

      • And development, 397

      • Annual Report, 1965, 48, 61

      • Articles of Agreement in law of treaties, 876

      • Basic majority for decisions, 403, 405

      • Borrowing by: 23–24, 202, 295, 297, 440, 479;

        • from Switzerland, 305;

        • guidelines on, 476;

        • terms of, 443. See also General Arrangements to Borrow

      • Bretton Woods formula for quotas, 407

      • Central position of five members, 450

      • Change by practice or amendment, 381

      • Changing character of borrowing agreements, 442

      • Charges, levied by, 253, 421, 425

      • Circulation of documents, 60

      • Collaboration with, 158, 263

      • Commercial banks, relations with, 434

      • Committees: creation of, 395;

        • preference for representative, 395

      • Concessionality, 420

      • Consultations and negotiations with members, conduct of: 391, 451;

        • on use of resources, 392

      • Continuity and change: 381;

        • some general reflections, 448

      • Control, by members, 385, 391

      • Conversion of balances sold, 419

      • Convertibility through, 177, 188, 282, 415, 808

      • Cooperation by, 60

      • Credit transactions, 422

      • Currencies, selection for use in transactions, 419, 481

      • Decisions: majorities for, 403;

        • special majorities for, 404;

        • varieties of special majorities, 405

      • Delegation of powers, 389

      • Developed members, 258

      • Developing members, 33, 122, 258, 396, 463–64

      • Distribution of powers, 389

      • Diverse currencies, sales, 419

      • Diverse membership, consequences, 396

      • European Community, liaison with, 570

      • Exchanges by members of currency balances purchased from Fund, 817

      • Exchanges of currency balances by, 428

      • Ex-members, 647

      • Field of interest, 240

      • Financial activities, 439

      • Financial structure, 427, 782

      • Financing by, 418

      • Flexibility, 11

      • Functions: 36;

        • a priori and a posteriori, 126;

        • in relation to GATT, 454;

        • oversight by, 280

      • Gold: obligation to sell, 760;

        • purchases to provide currency to member designated to receive SDRs, 750;

        • sales, 220, 481, 733;

        • tranche, 7, 194, 196, 265, 422, 438, 451, 495, 785

      • Groups: as satellites, 402;

        • pressure and steering, 402

      • History, 8

      • Holdings, maintenance of value, 256, 608

      • Investment by, 430–31

      • Keynes: and domestic policies, 846;

        • and White on organizational aspects, 385;

        • interpretation of authority to use resources, 856

      • Legal competence, 455

      • Liquidation provisions, 688

      • Liquidity: control of official, 457;

        • management of global, 444

      • Manual on Admission to Membership, 884

      • Members, classes of, 103, 122, 256, 396

      • Membership: 248;

        • criteria for, 396;

        • in monetary unions, 652;

        • size of, 383;

        • withdrawal from, 94, 164, 882

      • Monetary arrangements outside of, 152

      • Mutuality and concessionality, 418

      • Nonmembers, 47, 159

      • Obligation to exchange balances purchased from, 420

      • Organs, 301

      • Origins and functions, 841

      • Par values: concurrence in change, 93, 156;

        • division of authority between member and, 162;

        • finding of termination, 166

      • Passive, 426

      • Policies: 46, 440, 787, 801;

        • criteria for, 400;

        • on use of resources, 785;

        • uniformity, 256

      • Policy on enlarged access: 440, 787;

        • revision of amounts, 801

      • Powers not subject to delegation in, 389

      • Purposes, 26, 28, 36, 41, 61–62, 81, 119, 122, 126, 153, 158, 162, 167, 198, 382, 450, 455

      • Quotas: adjustments, 406;

        • effects of relative and absolute amounts, 406;

        • voting power, 406

      • Rationale for formula on voting power, 403

      • Rationale of borrowing by, 441

      • Reasons for special majorities for decisions, 404

      • Regulatory authority, 36, 65, 407

      • Remuneration paid by, 204, 209, 253, 420, 489

      • Reports by, 63

      • Reserve assets, early Fund-related, 443

      • Reserve position in, 194, 196, 200, 495

      • Reserve tranche, 196, 265, 436, 438, 451–52, 687, 785

      • Resolutions, membership, 888

      • Resources: “general,” 427;

        • ineligibility to use, 94, 164, 794;

        • more prolonged use, 419;

        • need for use, 153, 190, 256;

        • normal and abnormal needs for use, 486;

        • original normal amounts of use, 435;

        • revolving, 418, 423

      • Sanctions: 104, 164, 166, 274, 302, 520, 540, 543–44, 567;

        • application, 297

      • Second line of reserves, 426

      • “Self-amendment,” 347

      • Separation of Departments, 783

      • Services: 762;

        • performance of, 153, 399;

        • prohibition involving gold, 762

      • Structure, 383, 450

      • Subscriptions, 456

      • Subsidy Accounts, 399, 442, 783, 864

      • Supply considerations, 471

      • Surveillance, role of Executive Board and Managing Director, 542–43

      • Tranche policy, 786

      • Transactions: 456;

        • character of, 421;

        • initiative for, 427

      • Trust Fund, 350, 399, 430, 448, 758, 783, 862, 866, 868, 875

      • Trust principles recognized, 870

      • Use of resources: 10, 50, 64, 92;

        • and encouragement of capital inflow, 434;

        • as result of capital movements, 486;

        • by developing and developed members, 44;

        • for capital transfers, 442, 858;

        • proliferation of policies on, 435;

        • temporary, 423, 456;

        • United States, by, 480;

        • waivers, 435, 440. See also Charges on Use of Fund’s Resources

      • Voting power: 403;

        • of developing countries, 403

    • International Monetary Fund and Gatt, complementary jurisdictions, 454

    • International Monetary Fund and World Bank

      • Collaboration: 466;

        • obligation for, 466;

        • on external debt, 469;

        • on missions, 466;

        • parallel statements on, 467

      • Executive Boards, composition, 461

      • Functions, distinctions between, 473

      • Joint activities, 462

      • Merger, 475

      • Quotas and subscriptions: comparison, 459;

        • increases in, 461

      • Relative prominence of, 474

      • Structural relationship between, 460

      • Understandings on areas of responsibility, 468

    • International Monetary Law, 17 Principles of trust funds in, 862 Rebus sic stantibus, 623

    • International Monetary System, 9, 17, 189, 197, 238, 248, 255, 292, 308, 479, 485–86, 497, 508, 564, 619

      • Adaptation, 32, 35–36, 53

      • Agreements: 53;

        • communiqués as, 54;

        • practice as, 55

      • Arrangements, collaborative, 71

      • Balances of payments and, 239

      • Countries within, 240

      • Criticisms, 240

      • De facto arrangements, 49, 70

      • Definitions, 39, 238

      • Development, 114

      • Disturbances, 30, 32

      • Elements: 40, 52;

        • external to, 41

      • Essential purpose, 123

      • Evolution, 110, 135

      • Future of, 227, 235

      • Growth, 122

      • International Monetary Fund: oversight by, 116;

        • report on Reform of, 333

      • International monetary law and public international law, relation to, 239

      • Legal concept of, 22

      • Management, 32, 35, 53

      • Manipulation, 126, 158

      • Members, 45, 47

      • “Monetary,” “economic,” “financial,” meanings, 56, 61–62

      • Non-system, 69

      • Objectives, 39

      • Perception as system or non-system, 73

      • Price stability, 122

      • Problems, 36, 44, 309

      • Proposals for reform, 94

      • Purpose, according to Article IV, 458

      • Qualities, 43

      • References, in Articles, 26

      • Reform: 498;

        • attempted, 300

      • Rejected ideas, 21

      • Supervision of, 36, 53

      • System, 72

      • Underlying economic conditions, 290

    • International Organizations Authority: 101;

      • discretionary, 101;

      • fixed rules and discretionary powers, 104, 242

      • Rules and discretions, 22

    • International Trade Organization, 65, 453

    • International Transport by Rail, Convention concerning, 621

    • Interpretation

      • Attitudes to, 396

      • Decisions on, 393

      • International Monetary Fund: amendment of power of, 394;

        • power of, 249

        • Teleological, 449

    • Iran, 691

    • Italy, 145, 266, 321, 359, 387, 484, 492, 527, 553, 644, 649, 692, 741, 841

      • European Currency Unit in, 703, 720

    J

    • Japan, 263, 290, 293, 297, 387, 420, 484, 489, 499, 527, 549, 551, 649, 654, 799, 819, 832, 881

    • Japanese Yen, 193, 201, 356, 673, 700

    • Joint Float, 98

    • Jordan, 691

    • Jurisdiction, overlapping international, 37

    K

    • Kenya, 691

    • Key Currency Plan, 128

    • Keynes, 880

      • Amendment, proposed, 854

      • Article VIII, Sections 2(a) and 4, controversy about, 852

      • Banking with Clearing Union versus banking with central banks, 850

      • Capital controls, 847

      • Clearing (Currency) Union, 38

      • Conditions for durable economic order, 844

      • Domestic policies and Fund, 846

      • Experts and politicians, 849

      • Fundamental disequilibrium, 845

      • Inaugural Meeting of Boards of Governors, Savannah, Georgia, 1946, 851

      • International Monetary Fund: interpretation of authority to use resources, 856;

        • organizational aspects, 851;

        • problems of organization, 844;

        • regulatory authority, 847;

        • retention of authority by members, 846;

        • rights of private persons against monetary authorities, 855

      • Legal interpretation, 852

      • On legal problems, 841

      • Par value, unauthorized change, 845

      • Reaction to U.S. National Advisory Council on International Monetary and Financial Problems, 851

      • Rules versus discretions, 848

      • Site of Fund and World Bank, Washington versus New York, 851

      • Transitional arrangements, 846

      • World Bank lending, reconstruction of monetary systems, including long- term stabilization loans, 858

    L

    • Language, 1, 11

      • Legalese, 3

      • Mandatory and hortatory, 121, 124

      • Terminology, 2

    • Law

      • Equal protection, 256

      • Plain language, 3

      • Public international, 48

    • Law of Treaties, Fund’s Articles of Agreement, 876

    • Legality: 110;

      • return to after collapse of par value system, 521

    • “Link,” 214, 259, 759

    • Liquidity

      • Global, 33, 35, 38, 44, 107, 235, 247, 444

      • International, 24

      • Surveillance of, 198, 219, 236

    • Luxembourg, 652, 700. See also European Monetary System

    M

    • Malawi, 691

    • Malaysian/Singapore Cent, unit of account, 598, 600

    • Managing Director of Fund, 390

      • Broadened functions of, 392

      • Executive Board: and division of functions, 391;

        • relationship to, 390

        • Role of: 448;

      • relationship to staff, 451

      • SDRs, proposals on allocation, 392

    • Margins

      • Available to U.S. dollar, 273

      • Differences among currencies, 273

      • See also Exchange Arrangements;

        • Exchange Rates;

        • Exchange Transactions

    • Maudling Proposal of Mutual Currency Accounts, 324

    • Mauritius, 691

    • Mexico, 410, 434, 814

    • Monetary Institutions, meaning of, 56

    • Monetary Law, see International Monetary Law

    • Monetary Policy, 264

    • Monetary Reserves, 170, 194–95, 199

      • Calculation of, 731

      • Need for, 199

    • Monetary Unions, 102, 142, 654

    • Multicurrency Intervention, 105, 146, 186–87, 203, 275, 278

    • Multilateral Settlement, 39

    • Multilateral System of Payments and Transfers, 807

    • Multiple Currency Practices, 61, 73, 87, 115, 130, 160–61, 173, 251, 417, 585, 629, 808

      • Change in law relating to, 130

      • Fund’s policy on, 132

      • Reasons for approval, 88

    • Mutual Currency Accounts, 323

      • Contrast with substitution, 326

      • Ossola Report, 327

    • Mutuality, 420

    N

    • Neologisms, 7

    • Netherlands, 321, 482, 484, 648, 741, 814

    • Netherlands Guilder, 482, 487

    • Nonmembers, Fund, 837

    • Nonrevaluation, competitive, 81

    • Norway, 149, 676

    O

    • Objective Indicators, 101, 107, 146, 274, 300, 305, 411, 526, 620, 651

      • Disproportionate reserve movements, 107

      • Opposition to, 102

    • Oil Facility, 64

    • Operations, definition, 782

    • Orderly Conditions, 111, 129, 279, 289, 585

    • Organization for Economic Cooperation and Development (OECD), 37, 56, 59

      • Code of Liberalization of Capital Movements, 37, 59, 175

      • Working Party No. 3, 299, 493

    • Ossola Report, 327

    • Outline of Reform, (June 14,1974), 25, 30, 33, 40, 66, 98, 104, 156, 186, 201, 203, 215, 219, 235, 242, 270, 274, 286, 292, 300, 305, 333, 347, 398, 401, 538, 562, 583, 632, 706, 751

      • Annexes: 276;

      • two, 301;

      • three, 278;

      • five, 277, 335;

      • seven, 338

    • Consolidation, 338

    • Exchange system, 104

    • Immediate steps, 107

    • Interim period under, 341

    • Main features, 276

    • Reserve currencies, holdings of, 277

    • Substitution Account, 335, 337

    • Substitution under, 334

    P

    • Par Values, 27–28, 73–74, 108, 176, 178, 183, 188, 198–99, 219, 408, 518, 580

      • Authority, division between Fund and member, 162

      • Benefit of doubt, proposed change, 93

      • Breakdown, 268

      • Bretton Woods principles, 76

      • Changes: 78, 156, 200, 297, 410;

        • competitive, 76, 79, 81, 87, 100, 298;

        • inadequate, 79, 81;

        • infrequent, 581;

        • political and social consequences, 93;

        • proposals, 92, 163;

        • responsibility for, 298;

        • unauthorized, 93, 164, 633;

        • uniform proportionate, 92, 163, 522, 646

      • Competitive nonrevaluation, 81

      • Competitive undervaluation, 298

      • Conditions for return to, 150

      • Consultation, 78

      • Currencies, revaluation, 81, 298

      • Deterrence to breach, 520

      • Devaluations, 298

      • Discouragement of unrealistic, 165

      • Effectiveness, 96

      • Flaw in, 444

      • Fundamental disequilibrium: 79, 93, 155, 157;

        • prevention, 155

      • Ineffective, 86 Initial, 78, 154, 163

      • International Monetary Fund: concurrence in change, 93, 156;

        • finding of termination, 166

      • Member’s separate currencies, 646

      • Multilateral negotiations on, 299

      • Obligation to maintain effective, 82

      • Observance of, 648

      • Operation of, 409

      • Overvalued currencies, 81

      • Parities, 82, 260

      • Persistence, 137

      • Position of United States in voting on decisions under possible future system, 634

      • Possible future system: 150, 244, 283, 413, 586;

        • termination, 151

      • Price of gold, 525

      • Primary norm, 85, 97, 262

      • Principles, 241, 244

      • Regulation, characteristics of, 626, 631

      • Reliance of negotiators of treaties on, 581

      • Settlements under, 153

      • Stability without rigidity, 79

      • Stable but adjustable, 97, 150, 203, 269, 275

      • Termination, 161, 164–65

      • Under Schedule C, 121

      • United States criticism, 272

      • “Unrealistic,” 164

      • Voting majority for decisions, 629, 632, 634

      • Voting on, 78

      • Weaknesses, 519

    • Payments: 171;

      • multilateral system, 170, 178, 183–84, 245, 414

    • Performance Criteria, 437, 788, 795, 802

      • Multiple currency practices as, 251

      • Standard, 789

    • Poincaré Franc,see Franc

    • Policies

      • Convergence, 553

      • Coordination, 356, 557

      • Domestic, 10, 51, 75, 111, 121, 124, 129, 134, 279, 289, 414, 449, 525

      • Social and political, 122, 155, 163

    • Political Bodies in Fund, 29

    • Portugal, 753

    • Postwar Transitional Period, 174, 188

    • Pound Sterling, 193, 200, 258, 323

      • Reduction of holdings, 311

    • Powers, implied, 449

    • Pressures, 30, 102, 104, 107, 274, 301, 411

    • Principal Reserve Asset,see Special Drawing Rights (SDRs)

    • Public Law 98–181 of United States, see United States

    Q

    • Qatar, 691

    • Questions and Answers on the IMF, 883

    R

    • Rambouillet Summit Meeting, 112, 288–89, 527, 548, 561

    • Real Resources, transfer of, 33–34

    • Reconstruction, 58

    • Reform, 29, 183

      • Interim period, 107–109, 538

      • US. proposals: 98, 270;

        • explanation of, 274

    • Relations, monetary, 61

    • Remuneration, 372

    • Repurchase, 421, 423

      • Formulas, 424

      • Normal period, 424, 789

      • Present practice, 425

    • Reserve Assets, 6–7, 28, 44, 50,194, 246, 308, 443

      • Attitudes to, 763

      • Collaboration with respect to: 197, 307, 365

      • Definition, 194

      • Harmonized use, 329

      • Loan claim, readily repayable, 495, 687

      • Nonnational, 182

      • Primary, 335

      • Use to support currencies, 666

      • See also Gold and Special Drawing Rights (SDRs)

    • Reserve Currency Countries, use of Fund’s resources by, 480

    • Reserves, 102, 422

      • Accumulation, 81

      • Centralization, 315, 318, 333, 808

      • Composition, 217, 332, 340, 353

      • Convertibility, 808

      • Creation of types, 202

      • Demand, 662

      • Movements, 102

      • Portfolio management, 356

      • Types, 200

      • Uses, 200

    • Reserve Tranche, Fund, 196, 265, 436, 438, 451, 687, 785

      • Member’s option to enlarge, 452

    • Resolutions of Board of Governors,see Index C

    • Restrictions, 37, 49, 414

      • Agreement not to impose, 37

      • Definition, 172

      • Import, 63

      • Motive and effect, 66

      • On payments and transfers, 65, 73, 80, 83, 88–89, 171

      • Trade, 64

      • Voluntary declaration on trade, 66

    • Rome Communiqué, 29–30, 32

    • Rule of Law, 11

    • Rules and Regulations of Fund, see

    S

    • Sanctions, Fund, 104, 164, 166, 274, 540, 544

      • Mobilization of shame and judgment of peers as pressures, 302, 543, 567

    • SĀo Tomé and Principe, 691

    • Saudi Arabia, 387, 406, 507, 691

    • Scarcity

      • Declaration of, 91

      • Scarce currency clause, 91, 99, 133, 161, 260, 294, 301

      • Two forms, 295

    • Schedule C, 586. See also Articles of Agreement of the Fund and Index A

    • Second Amendment, see Articles of Agreement of Fund and Index A

    • Security, national or international, 73

    • Seychelles, 691

    • Smithsonian Agreement, 97, 100, 159, 262, 269, 273, 299, 403, 582

      • Communiqué, 271

    • “Snake,” 98, 114, 142,145, 147, 154, 271, 359, 583, 617, 643, 649, 664, 676, 692

    • “Snake in the Tunnel,” 649

    • Soft Economic Law, 9–10, 515

      • Administration, 563

      • As compromise, 537

      • Characteristics, 516

      • “Guidance,” 125, 531

      • Guidelines, 515

      • Principles, declaration of, 515

      • Retreat from firm law to, 517

      • Transformation into firm law, 565

      • Universal organizations and, 516

    • Somalia, 691

    • South Africa, 662, 727, 733, 737, 739, 741, 744, 750

    • Sovereignty, 44, 75–76, 78, 167, 241, 570, 844

    • Special Drawing Rights (SDRs), 5–6, 8, 23–24, 27–28, 38, 41, 47, 86, 100, 115, 127, 135, 137–38, 142, 156–57, 163, 180, 182, 186–87, 189, 194–95, 197–98, 200, 202–203, 218–19, 221, 229, 237, 246, 252, 259, 266, 275–76, 285–86, 293, 295, 307, 309–10, 312, 322, 327, 329–31, 335, 339, 343, 360, 390, 394, 403–406, 416, 443–44, 495, 497, 499, 505, 531, 583–84, 610–13, 616, 621, 646, 659, 680, 727, 742, 748, 762–63, 783, 791, 801, 810–11, 878

      • Acceptance: limit, 682;

        • obligation, 208, 748

      • Advantages over gold, 218

      • Agreed transfers, 205, 208

      • Allocations: 287, 444;

        • after First and Second Amendments, 210;

        • and cancellation, 198, 203;

        • as new purpose of Fund, 382;

        • charges on, 257;

        • criteria for, 210, 350, 665;

        • effect of objective of role, 213;

        • global need, 446, 457;

        • in third basic period, application of criteria, 212;

        • net cumulative, 205;

        • opting out, 353;

        • problems, 214;

        • refusal to accept, 681;

        • substitution, to support, 350

      • Alternative: to gold, 707;

        • to reserve currency, 707

      • Amendment of practice on debiting or crediting differences between interest and charges, 717

      • Attitudes to: 763;

        • United States, 444;

        • change in, 287;

        • original, 207

      • Basic obligations, 205

      • Basic periods, 210

      • Borrowing of reserves versus allocations, 351

      • Cancellations: 444;

        • criteria for, 210, 350, 665

      • Characteristics, 203

      • Clearing arrangements: 253;

        • linking SDRs and SDR-denominated assets, 709

      • Collaboration, 208

      • Common denominator, 203

      • Compared with: CRUs, 312;

        • gold, 287;

        • reserve currencies, 287

      • Compromises on, 445

      • Conversions by issuer, 679

      • Criticisms: 216;

        • by Group of Thirty, 707

      • Demand as long-term global need, 211–12, 351, 666–67

      • Denominator in legislation, 691

      • Designation process, 196, 205–206, 208, 231

      • Earned, 209

      • Effects of ECUs: on allocations, 685;

        • on role, 686

      • Developing members, 398

      • Disadvantages, 210

      • Freely buying and selling, 106, 160, 203

      • Future of: 707;

        • role as seen by U.S. official, 287

      • “Gold-like,” 749

      • Holders: 47, 674;

        • as portfolio assets of, 689–90;

        • prescribed, 207, 253, 718

      • Holdings: balanced distribution, 208;

        • by Fund, 709;

        • by members, 253;

        • distribution, 681;

        • reconstitution of, 205, 208, 253, 682

      • Ideas combined in “supplement,” 211

      • Improvements, 445

      • In international monetary system, 214

      • Interest and charges: 684;

        • on holdings, 209, 257

      • Intervention with, 216

      • Limits of liability expressed in, 698

      • “Link” and, 214

      • Liquidation, 688

      • Means of payment, 701

      • Monetary reserve assets: amounts created as, 665;

        • origins, 660

      • Name, 445

      • Need to use, 206

      • Nomenclature, 659, 716

      • Nonmembers of Fund: 140, 252, 621;

        • and attitude to as unit of account in treaties, 594

      • Normative effects of future role, 707

      • Not transferable for gold, directly or indirectly, 209, 749

      • Obligation to transfer, 748

      • Operations: prescribed, 678;

        • with Fund, 206;

        • with other members, 206

      • Outline of a Facility Based on Special Drawing Rights in the Fund, 25

      • Payments as subscriptions to Fund, 708

      • Polak’s Fund based on, 322

      • Principle of equal value, 812

      • Principles for designation of transferees, 682

      • Private parties, 215

      • Rate of interest and other problems on holdings, 204, 372

      • Redemption of balances, 749

      • Relative stability of value, 589

      • Reserve asset, principal, 197, 203, 209, 236, 286, 350, 366, 445, 667, 705

      • Reserves: change in composition, 206, 209;

        • need to use, 676–77;

        • proportion of total, 210, 445, 708;

        • supplement to existing, 211, 666;

        • transfers to change composition, 679, 682

      • Role, not substituted for gold under First Amendment, 747

      • Sales by Fund for replenishment of currency, 677–78

      • Settlement of obligations: intraorganizational, 695;

        • with members, 677;

        • with nonholders, 675

      • Standard terms for use as portfolio assets, 690

      • Transactions and operations: 206;

        • by agreement, 676;

        • by prescribed holders, 675;

        • with designation of transferees, 676

      • Ultimate obligations, 677

      • Unit of account: chosen voluntarily or imposed, 698;

        • in Fund, 431;

        • in other legal instruments, 446;

        • in treaties, 592, 594;

        • private use as, 699;

        • reasons for adoption as, 590;

        • transition from gold in treaties, 591;

        • under treaties and in international organizations, 222, 252, 446, 697

      • United States and, 706

      • U.S. dollar and, 209

      • Uses: 203, 676;

        • suspension of, 801

      • Valuation: as monetary reserve asset, 671;

        • basket method, 446;

        • freezing method in treaties, 602;

        • method of, 157, 204, 220, 590;

        • principle for adapting method, 590;

        • successive methods, 589

      • Value, maintenance of, 209

      • Volume, 446

    • Special Drawing Rights and European Currency Units

      • Comparison of present status, 705

      • Denominators in exchange rate regulation, 691

      • Other relationships, 686

      • Reasons for use as unit of account, 696

      • Reviews and changes in method of valuation, 673

      • Ties between, 685

    • Special Drawing Rights Department, withdrawal from, 681

    • Stand-By Arrangements, 437, 788

      • Noncontractual character, 438

      • Period of, 789

      • Suspension of transactions under, 796

    • Stressperanto, 6

    • Subscriptions to Fund, 456

    • Subsidy Accounts, Fund, 399, 442, 783

      • As trust funds, 864

    • Substitution, 187, 202–203, 236–37, 247, 275–76, 292, 307

      • Compared with funding, 310

      • Compulsory, 322

      • Concept, 308

      • Concluding observations, 375

      • Criticisms, 375

      • Definition, 313

      • Developing countries, 339

      • Evolution of international monetary system, 362

      • General reasons for advocacy of, 309

      • Objectives, 375

      • Participation in, 367

      • Report of Technical Group, 340

      • Reserves, diversification, 355

      • Symmetry among depositors, 353

      • Treatment of deposited assets, 313

      • Varieties, 310

    • Substitution Account, 706, 764

      • Article V, Section 2(b), administered under, 363

      • Capital, impairment of, 373

      • Claims: as reserve assets, 369;

        • assignability, 370;

        • characteristics and uses, 368;

        • encashment, 371;

        • liquidity, 370

      • Costs and benefits, 294, 364

      • Deposits: amortization, 352, 373;

        • occasions for, 368;

        • volume, 367

      • Designation of transferees of claims, 371

      • Developing members, 366

      • Effect on: allocations of SDRs, 366;

        • borrowing in market, 367;

        • Fund’s charges, 367

      • Interest: on claims, 372;

        • on deposits, 352

      • Interim Committee, 377

      • Legal techniques, 363

      • Liquidation, 352, 373

      • Loans from, 341

      • Maintenance of value: 364;

        • of claims, 372–73;

        • use of gold for, 772

      • Nonmembers, 370

      • Ownership of deposited assets, retention of, 376

      • Participants, 353

      • Postponement, statement by Wallich, 377

      • Profits or losses: 340;

        • treatment, 373

      • SDRs, allocations, 344

      • SDRs and SDR-denominated claims: differences between, 369;

        • issued through, 363

      • Under enabling power, 346

      • U.S. views, 365

      • Voting power and majorities, 363

      • Summit Meetings and Communiqués, 134, 498

      • Supranational Government, 536

      • Surplus and Deficit Countries, symmetry, 294

      • Surplus and Deficit Members, surveillance over policies, 302

      • Surrender Requirements, 173, 178, 189

      • Surveillance, 135, 250, 650

      • “Conclusions”: example of, 543;

        • in consultations, 117, 251;

        • of Executive Board, 543

      • Decisions on, 116

      • “Discussions” in, 118

      • Executive Board, role, 543

      • Managing Director, role, 542

      • Multilateral, 135, 553, 569, 579

      • Sanctions, 544

      • Special consultations, 117

      • Strengthening, 304

    • Suspense Accounts, 428, 430

    • Swap Arrangements, 50, 263, 548

      • August 1971, 523

    • Sweden, 149, 484, 500, 676

    • Switzerland, 47, 74, 240, 249, 290, 312, 321, 343, 369, 441–42, 490, 504–506, 549, 551, 647, 741, 753

      • Borrowing by Fund, 505

    • Symmetry, 92,’ 101, 103, 146, 148, 162, 176, 185, 218, 237, 242, 255, 303, 334, 353, 401, 563, 568, 694

      • Article IV, 401

      • Meanings, 257

      • Pegged and floating currencies, 307

      • Reform, 258

      • Reserve and nonreserve currency countries, 260

      • Subjective judgment, 258

    T

    • Target Zones, 114, 128, 547, 552. See also Central Rates

    • Trade or Other Current Account Measures, proposed voluntary pledge, 539

    • Tranches, see Credit Tranches, Fund;

      • Gold Tranche, Fund;

      • Reserve Tranche, Fund

    • Transitional Arrangements, 169, 174, 188, 256, 296, 414, 805

    • Treaties

      • Fluctuating rates, effects, 244

      • Intergovernmental and interstate, 876

      • Private international law, 138

      • Problems, 136

      • Unit of account, 582

      • U.S. dollar as unit of account, 582

    • Treaty of Rome, 37, 59, 142, 149, 175, 597, 624, 710

    • Triffin: dilemma, 445, 660, 746;

      • gold conversion account, 321;

      • plans, 316

    • Tripartite Agreement (1936), 75, 728

    • Trust Fund, International Monetary Fund, 350, 399, 430, 448, 758, 783

      • Authority for, 866

      • Resources: 868;

        • total, 875

        • Termination, 875

    • Trust Funds

      • Advantages, 867

      • Of other international organizations, 866

    • Trust Instrument, safeguarded provisions, 869

    • Trustees, duties, 870

    • Trusts

      • Comparative law, 864

      • Governing law, 869

      • In international law, suggested criteria, 863

      • “Inside information,” 870

      • Terminology, 862

    U

    • Uniformity, Principle of, 122, 255, 303, 397, 399, 563, 568

      • Developing members, 305

      • Stand-by arrangements, 400

    • Union of Soviet Socialist Republics, 78, 140, 252, 387, 647, 662, 698, 727, 741

    • Unit of Account of the Preferential Trade Area (Uapta), 622

    • United Arab Emirates, 691

    • United Kingdom, 50, 80, 93, 143, 200, 227, 261, 266, 296, 311, 321, 387, 400, 420, 437, 440, 465, 480, 483, 485, 488, 522–23, 527, 553, 629, 646, 649, 668, 692, 739, 741, 747, 799, 813, 819, 881

      • European Monetary System, 654

    • United Nations, 397, 463, 698, 882

    • United Nations Commission on International Law (Uncitral), 139–40, 252, 698

    • United Nations Conference on Trade and Development (Unctad), 215, 397

    • United States, 82, 84, 86, 91, 94, 98, 100–102, 109–10, 121, 128, 134, 150, 152, 160, 177, 180, 184, 187–88, 192, 197–98, 201, 208–209, 212, 218, 224, 237, 241, 261–63, 265, 270, 274, 282, 284, 289–90, 296–97, 300, 302, 304, 316–17, 321, 326, 331, 339, 341, 346, 352–53, 356, 359, 362, 386–87, 395, 401, 405, 408, 411, 420, 437, 443–44, 447–48, 463, 465, 479, 483–84, 488, 492, 498–99, 508, 518, 521, 524, 527, 530, 535, 537, 548, 551, 553, 559, 56364, 581, 584, 586, 629–30, 634, 636, 646, 648, 653–54, 729, 739, 741–42, 747, 755, 761–62, 766, 799, 812–13, 816, 819, 881

      • Action of August 15, 1971: 18, 85, 94, 268, 282, 410, 751;

        • as examined by political scientists, 577;

        • international law and, 520;

        • preliminary consideration in U.S. Administration, 522, 576;

        • rebus sic stantibus, 524

      • Bretton Woods Agreements Act, 3, 296, 465, 880

      • Constitutional law, 881

      • Discrimination against, 296

      • Dollar: 184, 186, 193, 197, 202, 209, 212, 216, 224, 228, 241, 258, 280, 309, 323, 419, 673, 700, 702, 704, 706, 716;

        • as central currency, 552;

        • confidence in, 218;

        • devaluation, 97–98, 264, 269, 271–72;

        • evolving role, 293;

        • overhang, 276, 286, 311, 337, 353, 356, 362, 364;

        • reduction in role, 287;

        • reduction in role, by substitution, 362;

        • SDRs and, 209;

        • shortage of, 91, 99, 296;

        • substitution of, 352;

        • view of role, 272

      • Freedom of Information Act, 522

      • Gold auctions, 548

      • Gold Commission: 224, 247, 773;

        • recommendations, 776

      • Gold stock, measures to reduce pressure on, 263

      • Gold transactions, 49, 661, 769

      • National Advisory Council on International Monetary and Financial Problems: 285, 296, 880;

        • Keynes’s reaction to, 851

      • Par value system, criticism by, 272

      • President’s Economic Report, 1973, 39

      • Program of November 1, 1978, 290

      • Proposal at Toronto, 499

      • Public Law 98–181, 248, 252–54, 452, 880

      • Role in the international monetary system, 519

      • SDRs: as principal reserve asset, 706;

        • uses, 267

      • Substitution Account, views on, 365

      • Veto over exchange arrangement decisions, 534

      • Voting power, 266

    • Units of Account, 138, 589

      • Change to new unit in treaties: 598;

        • procedures, 602

      • Distinguished from denominator, 691

      • European Community, practice in, 596

      • Functions, 695

      • Retention of former method of valuation, 601

      • SDR as unit in treaties, 589

      • Secondary unit in treaties, 595

    V

    • Valuation, under treaties, 616

    • Value

      • Attitude to losses, 431

      • Maintenance: 312, 318, 321, 325, 331, 340, 352, 430, 436, 505, 747, 822, 872;

        • authority to invest, 609;

        • International Monetary Fund’s practice, 431, 612;

        • meanings, 606

      • Vanuatu, 691

      • Versailles Summit and Communiqué, 125, 134, 450, 553, 562, 571

      • Vienna Convention on the Law of Treaties, 855, 877

      • Viet Nam, 691

    W

    • Werner Plan (1970), 664

    • White’s Plan for Stabilization Fund, 19, 21, 38, 259, 294, 443, 455, 475, 645

    • Wider Margins, see Central Rates Williamsburg Declaration on Economic Recovery, 571

    • Williamsburg Summit, 571

    • Working Group on Exchange Market Intervention, Report of, 307

    • World Bank (International Bank for Reconstruction and Development), 34, 56, 58, 141, 397, 399, 423, 453

      • Condition for membership, 460

      • Currency Pooling System, 141

      • Financial structure, 459

      • International organizations affiliated with, 459

      • Legal competence, 458

      • Period of repayment of loans, 460

      • Program loans, 58, 465

      • Structural adjustment policy, 59, 471

      • See also International Monetary Fund and World Bank

    • World Economic Outlook, 119, 303

    Z

    • Zaïre, 691

    • Zambia, 691

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