Word: imf
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Dates: during 1950-1959
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...Anderson's goal is to make aid to underdeveloped countries a cooperative free-world undertaking. At the World Bank-IMF meeting in New Delhi in October 1958, Anderson sponsored a proposal to increase World Bank funds by doubling the member nations' commitments to guarantee World Bank bonds. At the same meeting, Anderson unwrapped a U.S. plan to set up an International Development Association (with the U.S. contributing one-third of the capital) to make loans that, unlike World Bank loans, would be repayable in the borrowing country's own currency, no matter how soft. At the World...
TRADE. Anderson's drive to get other industrial nations of the free world to lower their trade barriers against U.S. goods has already brought dramatic results. At the late September meeting of the World Bank-IMF, Sweden's Per Jacobsson, managing director of IMF, agreed with Anderson that the "new situation' called for a "fresh examination" of international economic policies. The IMF executive board urged member nations with adequate gold and dollar reserves to end discrimination against U.S. goods "with all feasible speed." A few days later, the meeting of the 37-nation General Agreement on Tariffs...
...this plight, Franco has looked abroad to the International Monetary Fund for an urgently needed loan. But an IMF team sent to investigate the Spanish economy is expected to report that before qualifying for a major loan Spain must agree to throw less money away on the building industry, devalue the peseta, eliminate multiple exchange rates, possibly open its doors to foreign investment...
...Strength of a Saw. Whether proud Francisco Franco will agree to such painful reforms is questionable. But even if he does not get the IMF loan, he is confident that the U.S. and other anti-Communist powers will not stand by and let his regime succumb to economic disaster. And despite all the grumbling among his people, Franco believes that their vivid memories of the bloody days when brother killed brother in Spain will keep them from open revolt. After 20 years in power, Franco's one great strength with his countrymen lies in the old Spanish saw: "Better...
...might seem an empty quibble. But it is empty only if the idea of a balanced budget is itself meaningless. The President holds that a 1960 budget balance would be a highly valuable symbol of fiscal soundness, one that could shape the whole U.S. economy. If Congress shifts the IMF appropriation to 1960, it will wreck any hope of a 1960 budget balance-and will destroy the symbol...