Message from the President of the United States of America1

International Monetary Fund. Secretary's Department
Published Date:
November 1960
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Dwight D. Eisenhower

On a number of occasions I have had the pleasure of personally welcoming to Washington the Governors of the International Monetary Fund and the International Bank for Reconstruction and Development. I regret that I am unable to attend their opening Meeting today but I wish to send them my warm greetings.

The Fund and the Bank have achieved much for the benefit of mankind. The Fund has made a strong contribution to financial stability and sound practices in the field of foreign exchange policy. Its resources have been used to advance worthwhile programs. The recent increase in its resources should enable the Fund to broaden and intensify its work.

On Thursday, in my statement to the United Nations I spoke of the expanding role the Bank will play in the developing countries of the world. My reference to the World Bank, of course, included the International Development Association which will come into operation shortly. This Association will provide new and enlarged means of dealing with some of the development problems that could not otherwise be handled. My reference also included the International Finance Corporation which has done and will continue to do a most important work in assisting the investment of private capital in productive enterprise.

These international financial institutions have steadfastly and effectively pursued the objectives for which they were created. The people of the world look to them for continuing leadership in the coming years.

I am sure that the discussions of the Governors at this Meeting will provide for further progress based upon the good relations of the member countries with each other and upon the great institutions which embody so much of our hope for international cooperation in financial affairs.

Delivered by the Governor for the United States at the Opening Joint Session, September 26, 1960.

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