Suchergebnisse

In June 1948 the International Monetary Fund reported that its activities during the preceding nine months had been focused on offering temporary financial assistance to its members for monetary stabilization operations and on consultation on exchange problems. The Fund had prepared several special studies for member nations and had sent missions of technical advice and expert assistance to a number of countries.

The fourth annual meeting of the Board of Governors of the International Monetary Fund was held in Washington from September 13 to 16, 1949 with Pierre Mendes-France, chairman of the Board of Governors of the Fund, presiding. The first, third and fifth sessions were joint meetings with the International Bank for Reconstruction and Development.

Established on December 27, 1945, when the Bretton Woods agreements were signed in Washington, the International Monetary Fund has been primarily concerned with organizational and policy problems during its first year of existence. Not until September was the Fund ready to begin the actual work of establishing stable relationships between currencies and facilitating international trade.

The eleventh annual meeting of the Board of Governors of the International Monetary Fund was held in Washington, D. C, from September 24 through 28, 1956, under the chairmanship of Antonio Carillo Flores (Mexico). Of the six plenary sessions, two were held jointly with the International Bank for Reconstruction and Development. In addition, an informal session on recent developments in monetary analysis was held.

The eighth annual meeting of the Board of Governors of the International Monetary Fund was held in Washington jointly with the Board of Governors of the International Bank for Reconstruction and Development from September 9 through 12, 1953, under the chairmanship of Mohamad Ali, Governor for Pakistan.

On July 2, 1964, the Chairman of the Executive Board, Pierre-Paul Schweitzer, transmitted to the Board of Governors the nineteenth annual report of the International Monetary Fund (IMF) Executive Directors for the fiscal year ended April 30, 1964.

The third annual meeting of the Board of Governors of the International Monetary Fund was held in Washington from September 27 to October 1, 1948 with Yun-wu-Wang, Minister of Finance of China, presiding. The opening and closing session were joint meetings with the International Bank for Reconstruction and Development.

The government of Egypt paid $8,507,929.67 in gold and United States dollars to the International Monetary Fund on July 10,1950 in exchange for the equivalent amount in Egyptian pounds. Of the amount paid by Egypt to the Fund $829,766.03 was in gold and $7,678,163.64 in United States dollars. This payment, which became due in consequence of recent increases in Egypt's monetary reserves, fulfilled that country's obligation to use part of the increase to repurchase the Fund's holdings of Egyptian pounds in excess of 75 percent of Egypt's quota.

By the end of August 1952, the total exchange transactions of the International Monetary Fund were $892,408,380; repurchases in gold and United States dollars totaled $184,693,538. A repurchase payment of $27,121,500 was received from the Netherlands, subject to the receipt of further data on the Netherlands' monetary reserve. Brazil repurchased $25.5 million in August and $18.75 million in February, 1953, making its total repurchase since June 1952, $84.25 million.

The Board of Governors of the International Monetary Fund (IMF) held its nineteenth annual meeting in Tokyo, September 7–11, 1964, under the chairmanship of Francisco Aquino h., Governor for El Salvador. The meeting was held in conjunction with the annual meetings of the Boards of Governors of the International Bank for Reconstruction and Development (IBRD) and its affiliates.

Ninth Annual MeetingThe ninth annual meeting of the Board of Governors of the International Monetary Fund was held in Washington from September 24 through 29, 1954, under the chairmanship of Dr. M. W. Holtrop, Governor for the Netherlands. Two of the seven plenary sessions were held jointly with the Board of Governors of the International Bank for Reconstruction and Development.

In its monthly summary of transactions, the International Monetary Fund announced in April 1949, that it had sold U.S. $7,500,000 to India for rupees during March. There were no other currency exchanges that month. In April, Brazil and Egypt made their first currency purchase from the Fund: Brazil exchanged cruzeiros for $15 million and Egypt $3 million for Egyptian pounds. This brought the total of currency transactions made by member countries of the Fund to $725,483,380.91 since the beginning of operations in March 1947. On May 24, the Fund announced the establishment of the initial par value for the Yugoslav dinar at 50 dinars per United States dollar, the rate proposed by the government of Yugoslavia. On May 3, the Articles of Agreement of the International Monetary Fund and the International Bank for Reconstruction and Development were signed by the Siamese ambassador to the United States on behalf of Siam. This brought to a total of 48 the number of countries that were members of the two organizations. The Fund announced on May 27, the conclusion of consultations with the government of Ecuador on Ecuador's exchange system, and on related matters of credit and monetary policies. As a result of previous consultations with the Fund, Ecuador in June 1947 had introduced certain modifications in her then existing exchange control laws and regulations which were contained in the Emergency Law for International Transfers. As a result of discussions concluded in May the Emergency Law was to be continued for one year more on the understanding that in the meantime consultations between Ecuador and the Fund would take place regarding modifications in the present exchange system.

At the request of the government of Peru, the International Monetary Fund extended for one year a stand-by credit agreement which enabled Peru to draw up to $12.5 million from the Fund. At the same time, Peru renewed a stabilization agreement with the United States Treasury which permitted drawings up to $12.5 million, and a stabilization credit of $5 million granted by the Chase National Bank of New York. In announcing the agreements, the government of Peru emphasized its firm intention to follow sound fiscal and monetary policies in maintaining freedom of exchange.

The International Monetary Fund entered into a stand-by agreement with the government of Honduras authorizing drawings equivalent to $7.5 million for a one-year period. The arrangement was to serve as an assured secondary line of reserves to strengthen the country's international reserve position. The Fund entered into a stand-by arrangement authorizing the government of India to draw up to $100 million over the following year; this arrangement was made in support of India's reserve position, which had been under considerable strain in previous months.

It was reported on March 16, 1958, that the government of the Netherlands had informed the International Monetary Fund that it no longer required its $68,750,000 stand-by arrangement, in view of the improved reserve position of the Netherlands Bank. Accordingly, the arrangement, which was to have continued for one year from September 12, 1957, was cancelled as of the close of business on March 11.