Chapter

Appendices

Author(s):
International Monetary Fund. Secretary's Department
Published Date:
November 1964
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Statement Issued in Tokyo on September 7, 1964 by the Ministers and Governors of the “Group of Ten”

1. On the occasion of the Annual Meeting of the International Monetary Fund, the Ministers and Central Bank Governors of the 10 countries (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom and the United States) participating in the General Arrangements to Borrow met under the Chairmanship of Mr. Kakuei Tanaka, Minister of Finance of Japan. Mr. Pierre-Paul Schweitzer, the Managing Director of the International Monetary Fund, took part in the meeting which was also attended by the Secretary General of the Organization for Economic Cooperation and Development, the General Manager of the Bank for International Settlements, and the President of the Swiss National Bank.

2. The Ministers and Governors reviewed developments in the international payments situation and received reports from their deputies on plans and procedures being developed for carrying out decisions taken in the Ministerial Statement of August 1, 1964. These include the study to be made in Working Party 3 of the OECD on the adjustment process, the study by the Deputies on the creation of reserve assets, and the arrangements being made to strengthen international monetary cooperation through “multilateral surveillance.” They recalled their views expressed in the Ministerial Statement of August 1, 1964 supporting a prospective increase in Fund quotas.

3. The Ministers and Governors also reviewed with the Managing Director of the Fund and approved a working program initiated by the Deputies to consider the attitude of the participants toward the renewal of the General Arrangements to Borrow on which decisions must be taken under the provisions of these Arrangements by October 1965.

Reference List of Principal Topics Discussed 1

Compensatory financing of export fluctuations

  • Present scheme 9, 16, 20, 70, 84, 114, 126, 137, 184-85, 196, 217

  • Proposed changes 50, 59, 97-99, 102, 119, 162, 164, 180, 199

Financial stability 17, 48, 53, 55, 85, 90, 98, 108-109, 138, 169, 171

Gold

  • Price of 31, 45, 210-11, 213

  • Reserves 45, 47-48, 50, 53, 205-207, 210, 212

  • Subscriptions 45, 47, 50, 54, 69, 82, 90, 99, 106, 115, 149, 165-66, 185, 199, 208, 209, 210, 215, 222

  • Supply of 64, 74, 88-89, 167-68, 183, 210-11

International capital movements

  • For development 45, 122, 138, 160, 181, 186, 192

  • For monetary purposes 118

  • Tied aid 121, 124-25, 141, 154-55, 156, 214

International cooperation

  • Bilateral credits 44, 47, 67, 110, 121, 147, 162

  • Effective 4, 52, 67

  • Multilateral surveillance 44, 54, 67-68, 89, 107, 117, 166-67, 201, 207-208

  • Need for 26, 34, 127, 176, 177

International liquidity

  • Significance 10, 27-29, 31, 34, 36, 63-65, 71, 74-75, 80-81, 86, 87-88, 92, 95-96, 108, 114, 120, 124, 127, 131-32, 140-41, 146, 165, 169, 183, 189-90, 214, 218, 219, 221

  • Studies 10, 26, 36-37, 41-42, 45-47, 53, 63, 67, 74, 75, 78, 79, 82, 87, 102, 105, 107, 114, 117, 120, 123, 131, 138, 140, 145, 164-67, 183, 200, 204, 209, 211, 217, 219, 222

  • and less developed countries 10, 36-38, 49, 82, 86, 93, 95, 106, 115, 117, 145, 158-59, 193, 219

International Monetary Fund

  • Activities and functions—existing 8-10, 19-21, 48, 62, 76, 77, 82-83, 86, 101, 123, 140, 152, 171, 175, 178, 189, 190, 196, 217, 218

  • Activities and functions—proposed 38, 51, 59-60, 90-93, 101, 102-103, 116, 118-19, 121-22, 123, 148-50, 160, 161-62, 167-68, 175, 193, 210, 223

  • Annual Report 26, 29, 30-31, 37, 42, 45-46, 49, 51, 53, 60, 61, 62-63, 65, 66, 67, 69, 70, 75, 77, 78, 79, 80, 82, 83, 84-86, 96, 98-99, 101, 111, 123, 130, 131-33, 135, 140, 142, 159, 166, 185, 211, 212, 214, 215, 220

  • General Arrangements to Borrow 10, 34, 147, 166, 200

  • Place in monetary system 36, 49, 71, 76-78, 80-81, 86, 88-93, 102, 106-107, 115-16, 123, 132, 138, 147-50, 156, 167, 184, 199-201, 203, 206, 209

  • Quotas 10, 20, 28, 34, 42, 45, 47, 50, 54, 62, 69, 73, 74, 75, 77, 80, 82, 90, 99, 102-103, 106-107, 115, 117, 127, 133, 139, 149, 159, 165, 177, 179, 180, 183-84, 199, 208, 209, 215, 218, 219, 222

  • Transactions policies 10, 17, 19-20, 48, 51, 54, 71-72, 76, 78, 96, 118-19, 164, 166, 220

International monetary system

  • Balance of payments adjustments 53, 90, 98, 108-109, 156, 168-69, 204-205

  • Exchange rates system 55, 138-39

  • Exchange reserves—adequacy 53, 138, 158-59, 184

  • Exchange reserves—guarantee against loss 37-38, 91-93

  • Exchange reserves—owned versus borrowed 31, 43, 65-69, 81, 96,168, 205-207

  • Exchange reserves—reform proposed 68-69, 90-93, 107-108, 132, 167-68, 184, 206-207

  • Exchange reserves—supply of dollars 27, 41, 43, 56, 64, 74, 89, 183, 221

  • Gold exchange standard 66, 147, 168, 204, 207

Less developed countries

  • Burden of debt 23-24, 58, 116, 127-28, 181-82, 187-88, 199

  • Needs 3, 9, 36, 37, 58, 73, 81, 112-13, 116, 118, 120, 138, 150, 158-59, 160-62, 179, 191-92, 198-99, 215, 221

  • Prerequisites for development 4, 12, 23, 85, 120-21, 131, 137, 160, 181-82, 184, 186, 192, 195, 213, 221

Prices of primary products 22, 57, 59, 70, 97-98, 100, 102, 130, 136, 170, 177, 178, 186-88, 193, 217, 218, 223

Regional economic arrangements 12-13, 51-52, 123, 128-29, 133-35, 155, 156, 158, 170, 172, 189, 191, 213, 216

UN Conference on Trade and Development 13, 20-21, 23, 35, 51, 58, 84, 94, 97-99, 114, 127, 130, 133, 136-37, 143, 150, 162, 163-64, 178-81, 185, 192-93, 212, 214, 216

This list relates only to the Addresses and Statements. It excludes discussions of individual countries, tributes to the host country, and personal tributes. References are to pages.

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