Suchergebnisse

The presented paper describes the first membership of Czechoslovakia in the International Monetary Fund in the post-war period & the circumstances of its expulsion from this institution in 1954. Although Czechoslovakia was one of the founding members of the Bretton-Woods institutions & its relationship with the IMF looked promising at the beginning, the communist political take-over in February 1948 implied substantial change in this development. It was followed by the introduction of a centrally planned economic system & by a shift in the country's foreign-political orientation toward the East. The reason for Czechoslovakia's exclusion from the Bretton-Woods institutions was its repeated non-performance of the member state duties according to the Articles of Agreements of the IMR The main problem was that Czechoslovakia systematically refused to inform the IMF about developments in its economy & consult relevant monetary & economic arrangements with the IMF. Adapted from the source document.