PART 5 Looking back at forty years

Margaret De Vries
Published Date:
June 1986
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The Fund has a central responsibility to promote the effective operation of the international monetary system as a whole.

J. de Larosière, Concluding Remarks to the Board of Governors in Seoul, October 11, 1985


Over the last forty years the Fund has evolved in a number of ways in response to the needs of its members and to an ever-changing world economic environment. This last article takes a retrospective look at how the Fund by innovation and adaptation, from 1945 to 1985, came to have the character it had in 1985. Although the article highlights the Fund’s achievements in many areas, this does not mean that the Fund did not encounter problems or criticisms or that its policies and activities have been universally successful.

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