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CHAPTER 6 Multiple Exchange Rates

CHAPTER 6 Multiple Exchange Rates »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

Multiple exchange rates were one of the first problems that faced the Fund in 1946, and have probably been its most common problem in the field of exchange rates. An impressive number and diversity of countr...

CHAPTER 2 Objectives

CHAPTER 2 Objectives »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

When the fund was established, the founders had six purposes in mind. These were, as stated in Article I of the Fund Agreement: (i) To promote international monetary coo...

CHAPTER 12 Progress Toward Liberalization

CHAPTER 12 Progress Toward Liberalization »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

The consultations process just described has become the principal instrument through which the Fund’s policies on exchange restrictions have been implemented. These policies have varied a great deal—as have...

CHAPTER 4 Setting Par Values

CHAPTER 4 Setting Par Values »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

As the par value system has evolved, many questions have confronted the Fund. Since par values are central to the Fund Agreement, one set of questions has concerned their establishment. How quickly should in...

CHAPTER 26 Some Characteristics of Operation

CHAPTER 26 Some Characteristics of Operation »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

THE AVOIDANCE OF SANCTIONS A student of the development of the Fund must note how little use the Fund has made of sanctions. This characteristic of the way in which the Fund has oper...

CHAPTER 20 Stand-By Arrangements: Purposes and Form

CHAPTER 20 Stand-By Arrangements: Purposes and Form »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

Combating inflation by monetary and fiscal policies has been a recognized task of governments, especially since World War I, even though for much of the interwar period the major economic problems which coun...

CHAPTER 9 Subsidies to Gold Producers

CHAPTER 9 Subsidies to Gold Producers »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

The fund’s policy of discouraging sales of gold at premium prices, described in the last chapter, has had a parallel in connection with the payment of subsidies to gold producers. This practice too has been...

CHAPTER 27 The Amendments

CHAPTER 27 The Amendments »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

SPECIAL DRAWING RIGHTS In the 1960’s the conviction grew that some more rational method of controlling international liquidity was needed in order to strengthen the international mon...

CHAPTER 24 The Code of Conduct

CHAPTER 24 The Code of Conduct »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

PAR VALUES AND EXCHANGE RATES The basic premise of the provisions dealing with par values and rates of exchange, sometimes referred to as the par value system, was the novel idea tha...

CHAPTER 11 The Consultations Process

CHAPTER 11 The Consultations Process »

Source: IMF History Volume 2 (1945-1965) : Twenty Years of International Monetary Cooperation Volume II: Analysis

Series: Books

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 February 1996

ISBN: 9781451962925

Keywords: balance of payments, gold, exchange rates, exchange rate, exchange restrictions

The five years specified by Article XIV as the period after which the Fund was to consult annually with members on exchange restrictions came to an end on March 1, 1952. The staff and the Executive Board spe...