Mr. Chairman, it is once again my privilege to present to you the Annual Report of the Executive Directors of the Fund. But first I should like to associate myself with your expression of thanks to the President of the United States for his gracious words of welcome and for his inspiring remarks. I want also to join in extending the warmest greetings to all those present here today. We are particularly pleased to have with us the Governors and delegations of Botswana, Lesotho, Malta, and Mauritius, whose countries have joined the Fund since our last Annual Meeting. It is also our pleasure to welcome the representative of the People’s Republic of Southern Yemen, which has applied for membership. Swaziland, though not yet represented here, has likewise applied to become a member.