International Monetary Fund

This paper discusses events related to creation of the IMF. The paper highlights that representatives of 45 countries met at Bretton Woods, New Hampshire, a summer resort in the northeastern part of the United States, to prepare the final texts of the Articles of Agreement of the IMF and of the International Bank for Reconstruction and Development. The paper also discusses activities of the IMF in Latin America, highlighting that the Latin American countries offer a rich variety of economic experience, ranging from examples of financial stability and sustained economic growth to chronic difficulty or acute crisis.

Abstract

This paper discusses events related to creation of the IMF. The paper highlights that representatives of 45 countries met at Bretton Woods, New Hampshire, a summer resort in the northeastern part of the United States, to prepare the final texts of the Articles of Agreement of the IMF and of the International Bank for Reconstruction and Development. The paper also discusses activities of the IMF in Latin America, highlighting that the Latin American countries offer a rich variety of economic experience, ranging from examples of financial stability and sustained economic growth to chronic difficulty or acute crisis.

Fund Members, Quotas and Transactions

As at June 30, 1964

(Expressed in millions of U.S. dollars except where noted)

Countries which have accepted the obligations of Article VIII are indicated by an asterisk

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Note: Totals may not equal sums of items because of rounding.

Includes the effects of the Fund’s gold sales for currencies and of members’ repurchases in the currencies of those members.

Includes sales of $6 million to Czechoslovakia and $72.5 million to Cuba, both former members.

Includes $12.5 million due from Cuba.

Excludes $0.6 million net administrative expenditures.

International Monetary Fund Stand-By Arrangements in effect on June 30, 1964

(In millions of U.S. dollars)

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SURVEY MISSION REPORTS FROM THE WORLD BANK

Since 1949 the World Bank has sent more than a score of economic survey missions to as many different countries. Organized at the request of governments, the missions make on-the-scene surveys of the problems and potential for development in the country being studied, and they make recommendations to assist the government in shaping long-term development programs. Each mission’s final report, in English, is published as a book by The Johns Hopkins Press. Reports on the following countries are available: Kenya, Spain, Uganda, Tanganyika, and Venezuela, U.S. $8.50 each; Libya, Jordan, Malaya, and Syria, $7.50 each; Thailand, $6.00; Jamaica and Surinam, $5.00 each.

Orders should be sent directly to The Johns Hopkins Press, Baltimore, Maryland 21218.

I. F. N. S.

International Financial News Survey, written by members of the staff of the Fund, is based on material published in newspapers, periodicals, official documents, and other publications as cited at the end of each note. Explanatory material may be added, but no Fund editorial comment. Any suggestions made or opinions expressed are taken from the sources quoted. Items are selected for inclusion because they are in fields of particular interest to the Fund; their selection does not necessarily imply that they reflect the Fund’s views.

The News Survey is published weekly, except in the Christmas and New Year weeks. It may be obtained free of charge.

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