Chapter 3 Exchange Rates and Payments Restrictions
Author:
International Monetary Fund
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Language:
English
Print Publication Date:
03 Sep 1962
Keywords:
AR; AREA; sc; membership of the executive board; votes of Cyprus; van Lennep; Habibullah mali Achekzai; bonham Carter; U.K. quota; Currencies; Exports; Gold; Imports; Exchange rates; Africa; Western Europe; Europe; North America; Middle East

Abstract

During the 12 months ended April 30, 1962, the Fund concurred in changes in the established par values of the currencies of four member countries. These countries, and the dates upon which the changes took place, were Ecuador (July 14, 1961), Iceland (August 4, 1961), Costa Rica (September 3, 1961), and Israel (February 9, 1962). Each change involved a devaluation required to correct a fundamental disequilibrium. In Costa Rica, Ecuador, and Israel, the changes were also associated with the reduction or virtual elimination of multiple exchange rates. Since the end of the fiscal year the Fund has also concurred in a new par value for the Canadian dollar.

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Cover International Monetary Fund Annual Report 1962
International Monetary Fund Annual Report 1962
ISBN:
9781616351748
ISSN:
2227-8915
Publication Date:
03 Sep 1962
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781616351748.011
Pages:
276