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International Monetary Fund. External Relations Dept.
This paper discusses the appointment of Jacques de Larosière as Managing Director in the IMF. He assumed his duties at the IMF on June 17, 1978, succeeding Mr. H. Johannes Witteveen, of the Netherlands, whose service ended on June 16, 1978. Mr. de Larosière, 48, was Director of the French Treasury since 1974. He represented his government at many international conferences as well as on the boards of major industrial and financial concerns. Mr. de Larosière also participated in the work of the Committee of Twenty on International Monetary Reform and the Interim Committee.
International Monetary Fund. External Relations Dept.
This paper highlights that the IMF, as Trustee for the Trust Fund, held the first of its series of gold auctions on June 2, 1976, with the sale of 780,000 ounces of gold—the total amount offered—at a common price of US$126.00 a fine ounce. The first gold auction was a success from the point of view of both the market and the IMF. In all, a total of 25 million ounces of gold from the IMF’s holdings will be sold at auction over a four-year period.
International Monetary Fund. External Relations Dept.
This paper analyzes the impact of economic development on the environment. The paper highlights that the environmental impact of the industrial process includes everything from the effects of withdrawing the inputs for industry from nature, through the effects of transforming the inputs into salable products, the effects of using the products, and the effects of disposing of what remains after the product no longer has an economic use. The heart of the problem is that almost none of these impacts of industrial processes can readily be costed.