Front Matter

Front Matter

International Monetary Fund
Published Date:
September 1978
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    Annual Report



    The following symbols have been used throughout this Report:

    (...) indicate that data are not available;

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

    (-) is used between years or months (e.g., 1970-78 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    (/) is used between years (e.g., 1977/78) to indicate a fiscal year.

    “Billion” means a thousand million.

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

    The classification of countries employed in the Report is indicated in Tables 1 and 2 on pages 4 and 11.

    International Monetary Fund

    J. de Larosière

    Managing Director and Chairman of the Executive Board

    William B. Dale

    Deputy Managing Director

    Alternate Executive
    Executive DirectorsDirectors
    Sam Y. CrossThomas Leddy
    William S. RyriePendarell Kent
    Eckard PieskeGerhard Laske
    Jacques Henri WahlDenis Samuel-Lajeunesse
    Masanao MatsunagaRei Masunaga
    Muhammad Al-AtrashKadhim A. Al-Eyd
    Lamberto DiniEduardo O. de Toledo
    H. O. RudingTom de Vries
    Bernard J. DrabbleDonal Lynch
    Jahangir AmuzegarCosta P. Caranicas
    Byanti KharmawanKiat Chong Ng
    Eduardo MayobreNéstor O. Caldera
    Jacques de GrooteHeinrich G. Schneider
    S. D. DeshmukhWarnasena Rasaputram
    Frede HollensenMatti Vanhala
    Alexandre KafkaT. Ainsworth Harewood
    Wila D. Mung’ombaFestus G. Mogae
    R. J. WhitelawErnest Leung
    Dante SimoneFrancisco Garcés
    Samuel Nana-SinkamAbderrahmane Alfidja
    Senior Officers
    The General CounselJoseph Gold
    The Economic CounsellorJ. J. Polak
    Administration DepartmentK. N. Clark, Director
    African DepartmentJ. B. Zulu, Director
    Asian DepartmentTun Thin, Director
    Central Banking ServiceRoland Tenconi, Director
    European DepartmentL. A. Whittome, Director
    Exchange and Trade Relations DepartmentErnest Sturc, Director
    Fiscal Affairs DepartmentRichard Goode, Director
    IMF InstituteGérard M. Teyssier, Director
    Legal DepartmentJoseph Gold, Director
    Middle Eastern DepartmentA. Shakour Shaalan, Director
    Research DepartmentJ. J. Polak, Director
    Secretary’s DepartmentLeo Van Houtven, Secretary
    Treasurer’s DepartmentWalter O. Habermeier, Treasurer
    Western Hemisphere DepartmentE. Walter Robichek, Director
    Bureau of Language ServicesBernardo T. Rutgers, Director
    Bureau of StatisticsWerner Dannemann, Director
    Office in Europe (Paris)Aldo Guetta, Director
    Office in GenevaFernando A. Vera, Director
    Information OfficeJay H. Reid, Director
    Chief EditorNorman K. Humphreys


    August 7, 1978

    Dear Mr. Chairman:

    I have the honor to present to the Board of Governors the Annual Report of the Executive Board for the financial year ended April 30, 1978, in accordance with Article XII, Section 7(a) of the Articles of Agreement of the International Monetary Fund and Section 10 of the Fund’s By-Laws. In accordance with Section 20 of the By-Laws, the administrative budget of the Fund approved by the Executive Board for the financial year ending April 30, 1979 is presented in Appendix VI and the audited financial statements of the General Resources Account, the Special Drawing Rights Department, the Subsidy Account, the Trust Fund, and the Staff Retirement Fund for the year ended April 30, 1978, together with the reports of the External Audit Committee thereon, are presented in Appendix VIII.

    Yours sincerely,


    J. de Larosière

    Chairman of the Executive Board

    Chairman of the Board of Governors

    International Monetary Fund

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