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Albert Waterston, David Williams, and Robert F. Skillings

• Singer, H. W., International Development: Growth and Change, New York, N.Y., U.S.A., McGraw-Hill Book Company, 1964, xiv + 295 pp., $7.50; • Bhagwati, Jagdish, The Economics of Underdeveloped Countries, New York, N.Y., U.S.A., McGraw-Hill Book Company, 1966, 254 pp., $2.45; • Birmingham, W., and A. G. Ford (Eds.), Planning and Growth in Rich and Poor Countries, New York, N.Y., U.S.A., Frederick A. Praeger, 1966, 267 pp., $7.50; • Horowitz, Irving Louis, Three Worlds of Development: The Theory and Practice of International Stratification, New York, N.Y., U.S.A., Oxford University Press, 1966, xiv + 475 pp., $8.50; • Fryer, D. W., World Economic Development, New York, N.Y., U.S.A., McGraw-Hill Book Company, 1965, xi + 627 pp., $8.95; • Scott, Andrew M., with William A. Lucas and Trudi M. Lucas, Simulation and National Development, New York, N.Y., U.S.A., John Wiley & Sons, Inc., 1966, ix + 177 pp., $5.95.

Ahmed Zaki Saad

Abstract

Before bringing the Tenth Annual Meeting to a close, I should like to say that it has been a great pleasure for Dr. Kaissouni and me to serve as Chairmen of this Meeting. It has been an enjoyable duty to perform, and we thank you for making it so pleasant and easy.

International Monetary Fund. Secretary's Department

Abstract

The International Monetary Fund and the International Bank for Reconstruction and Development convened the first annual meeting of their Boards of Governors jointly at Washington on Friday, September 27, 1946. During the next six days the Fund Governors held five sessions—three jointly with the Bank.

International Monetary Fund. Secretary's Department

Abstract

These By-Laws are adopted under the authority of, and are intended to be complementary to, the Articles of Agreement of the International Monetary Fund; and they shall be construed accordingly. In the event of a conflict between anything in these By-Laws and any provision or requirement of the Articles of Agreement, the Articles of Agreement shall prevail.

Adrian Menderes

Abstract

It gives me pleasure to convey to you the great happiness which the Turkish people and the Government of Turkey share with the residents of Istanbul that the Tenth Annual Meeting of the International Bank for Reconstruction and Development and the International Monetary Fund is held in Istanbul with the participation of such distinguished personalities.

Ahmed Zaki Saad

Abstract

It is my privilege and that of my colleague, Dr. Kaissouni, to welcome you most cordially to this Joint Session of the Tenth Annual Meeting of the Boards of Governors of the International Bank for Reconstruction and Development and the International Monetary Fund. In particular, I am happy to welcome the honorable representatives of Afghanistan and the Republic of Korea, which joined the Bank and the Fund during the year.

International Monetary Fund
There is now widespread recognition that addressing quota and voice imbalances across the membership is essential for preserving the effectiveness of the Fund and its credibility as a cooperative institution. As noted in the Managing Director’s Report on Implementing the Medium-Term Strategy,2 members’ quotas have become increasingly out of line with countries’ economic weight in the global economy. In addition, the declining role of basic votes since the Fund was established has weakened the voice of smaller developing countries.