Word: imf
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...freely acceptable money. One plan it favors would be for the major nations to increase their contributions to the 102-nation International Monetary Fund, which then could make bigger loans to finance trade. The attraction of this is that the U.S., being by far the largest contributor, dominates the IMF...
...moneymen called the Paris Club then sat down to decide what mix of gold and currencies will make up the loan. The loan will be made through the International Monetary Fund, the daddy and inspiration of all the clubs. It thus raises Britain's debt to the IMF's maximum limit of $2.4 billion, makes the sterling rescue the biggest bailing-out operation in the IMF's 20-year history...
...International Monetary Fund is a specialized agency of the United Nations that has 102 member countries, acts as a sort of central bank of the national central banks. The IMF oversees the world's supply and flow of gold and currencies, recommends ways to promote financial stability and serves as a meeting ground for both the prosperous and the developing nations. Armed with $16 billion in gold and currency pledged by its members, the IMF stands ready to grant loans to nations in financial crisis, be it from inflation or balance-of-payments deficits. Its meetings: once a year...
...Paris Club-also known as the Group of Ten-is a blue-ribbon panel of finance ministers and governors of central banks from the IMF's ten leading industrial powers: Belgium, Britain, Canada, France, Germany, Italy, Japan, The Netherlands, Sweden and the U.S. The Ten quietly take on study assignments for the IMF (current study: proposals for a new type of international reserve currency) and, when necessary, supplement IMF loans with their own hard currencies. In the latter case, they contribute quotas under an agreement called the General Arrangements to Borrow, which is known as GAB. Meetings: whenever necessary...
...Bank for International Settlements (BIS), which arranges short-term credits for central banks. The central bankers make a three-day weekend of it, gathering two days ahead of the BIS meeting for a round of closed-door talks to inform and advise each other on monetary problems and plans. IMF Managing Director Pierre-Paul Schweitzer calls the exclusive group the "best club in the world." Meetings: once a month in Basel...