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International Monetary Fund

Abstract

The Annual Report to the Board of Governors reviews the IMF’s activities and policies during any given year. There are five chapters: (1) Overview, (2) Developments in the Global Economy and Financial Markets, (3) Policies to Secure Sustained and Balanced Global Growth, (4) Reforming and Strengthening the IMF to Better Support Member Countries, and (5) Finances, Organization, and Accountability. The full financial statements for the year are published separately and are also available, along with appendixes and other supplementary materials.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1974. The report highlights that in mid-1974, the world economy was in the throes of a virulent and widespread inflation, a deceleration of economic growth in reaction to the preceding high rate of expansion, and a massive disequilibrium in international payments. The average annual rate of inflation in industrial countries, already 7 percent in 1973, reached 12 percent (in terms of gross national product deflators) in the first half of 1974.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1973. The report highlights that world economic developments in 1972 and the first half of 1973 were dominated by a strong cyclical upsurge in activity, high rates of price inflation, and currency crises and unrest punctuated by another realignment of major currencies in February–March 1973. With key elements of the Bretton Woods system no longer observed, the work of reforming the international monetary system continued in the IMF through the Committee of Twenty.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1971. The report highlights that the performance of the world economy during 1970 and the first part of 1971 was less than satisfactory in certain major respects. Performance was heavily dominated by developments in the larger industrial countries. The expansion of total world output proceeded at a slow and irregular pace, primarily because of the 1969–70 recession and ensuing moderate pickup of economic activity in the United States.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1970. The report highlights that the performance of the world economy during 1969 and early 1970 was marked by severe inflation pressures and, at the same time, by a series of developments serving to improve the adjustment of payments imbalances in several major countries and to strengthen the international monetary system. World output and trade expanded vigorously, and, in a setting of high demand pressures and rapid price increases, interest rates soared to extraordinary levels.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1969. The report highlights that rapid expansion and financial imbalance were the main features of the performance of the world economy during 1968 and the first half of 1969. Output and trade in the industrial countries registered a sharp advance, imparting economic stimulus to the primary producing countries. Several of the industrial countries encountered severe balance-of-payments difficulties, and the international financial scene was marred by recurrent crises in foreign exchange markets.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1968. The report highlights that the performance of the world economy during 1967 was characterized by a mixture of marked progress and serious difficulty. The immediate challenge to stem and reverse the slowdown in economic activity that had begun in 1966 was met effectively. However, the deceleration and subsequent recovery in the trend of activity were accompanied by and contributed to balance-of-payments developments that aggravated longstanding problems.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 30, 1966. The report highlights that the year 1965 was characterized by substantial, although somewhat uneven, growth in the world economy. For the first time in many years, the rise in industrial output in the United States and Canada was markedly higher than in the other industrial countries, where, in the first half of the year, economic progress was generally rather slow. However, after midyear, economic activity accelerated both in the United States and in the European area.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year 1951. The report highlights that the year 1950 was the first postwar year in which progress toward general balance-of-payments equilibrium appeared to bring that objective within sight. Many countries outside the United States increased their U.S. dollar holdings and were able to make net purchases of gold from the United States. This favorable trend became particularly evident after the devaluations of September 1949.

International Monetary Fund

Abstract

This paper reviews key findings of the IMF’s Annual Report for the fiscal year ended April 1950. The report highlights that the widespread devaluation of currencies that took place in September 1949 was the most far-reaching in any comparable period in recent times. Thirteen members agreed new par values with the IMF, most of them involving a devaluation of approximately 30.5 percent in relation to the U.S. dollar. Six member countries with which the IMF has no agreed par value also depreciated their exchange rates.