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The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.
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This is the second time that I have had the opportunity to welcome you to Washington, and I do so with the greatest pleasure and satisfaction. Yours is a very vital role in the defense of the free world. Your contribution to financial and economic stability among the nations of the world is essential, and the results of these efforts will determine in a very large measure whether or how much each nation can use our resources, generous as they are, in the best interests of all of our people.
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Other Members: Ceylon, Colombia, El Salvador, France, Germany, Ghana, Iceland, India, Indonesia, New Zealand, Paraguay, Sudan, Syrian Arab Republic, United Kingdom, and United States
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I should like to begin these remarks by expressing my warm appreciation for the very friendly reception which Governors have given to me, on this first occasion when I have appeared before them as Managing Director, both in their formal statements and in their personal greetings. At the same time as I begin my service in the Fund, very many countries are beginning their association with us. I have enjoyed the opportunity during the past few days to meet very many Governors of those countries, and I look forward to the opportunity my position affords me to work with them on the many problems which will be of mutual concern.
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Before we begin our discussion on the Annual Report, allow me to express the keen appreciation—which I think all the assembly share—for the lucid, frank and stimulating address of the new Managing Director, Mr. Pierre-Paul Schweitzer.
Abstract
The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.
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It is a great pleasure to welcome you to these 1963 Annual Meetings of our international financial organizations: the International Monetary Fund, the International Bank for Reconstruction and Development, and its associated agencies—the International Finance Corporation and the International Development Association. I know I can express our unanimous appreciation for the friendly hospitality of the United States, our host on this occasion, as on so many others since the historic conference at Bretton Woods. I would also like to greet the Governors representing the twenty countries admitted to membership since the last Annual Meetings. There were only twenty-nine members when the Bank and Fund were legally established in December 1945. Today we are more than one hundred countries strong—strong in the economic progress we have achieved through cooperative efforts, and in our confidence that still more can be achieved in the future.
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Pierre-Paul Schweitzer
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Other Members: Ceylon, Colombia, El Salvador, France, Germany, Ghana, Iceland, India, Indonesia, New Zealand, Paraguay, Sudan, Syrian Arab Republic, United Kingdom, and United States