Word: supplementals
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Dates: during 1960-1969
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...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, usually several times a year...
...RUSSIA. A pending consular treaty provides U.S. access to arrested Americans within four days. Bail is rare, but foreigners awaiting trial may be temporarily freed in Moscow-hardly an easy place to escape from. Foreign lawyers may supplement court-appointed Soviet lawyers, though purely as advisers. Soviet police are ordinarily quite tolerant of minor offenses, such as public drunkenness, but careless picture taking is bad medicine. Chary of national disgrace, the Soviet cops are ruthless in protecting tourists from thieves and swindlers...
Vellucci possessed the instinctive ability to play both sides of the fence. He has a flair for grasping interesting issues and exploiting them. Like most other councillors, he has his own entourage of friends and informants to supplement his knowledge of what's going on in Cambridge...
...Economist Edward Bernstein, an influential White House adviser, is to have small but powerful groups of countries generate new international currencies of their own. Bernstein proposed that nations in the Group of Ten create a money-backed by their own francs, marks, yen and kroner-that would gradually supplement pounds and dollars in world trade. He figures that sponsor countries could expand this supply of new money by about $1 billion a year...
French Finance Minister Valéry Giscard d'Estaing has also called for the Group of Ten to create its own money, but he wants to use it only as a minor supplement to gold. France's main aim is to upgrade the importance of gold, of which it has plenty, and downgrade the dollar and the pound. The Common Market is talking about printing a six-nation money, and its economic chief, Robert Marjolin, figures that such a move could later open the way for a Group of Ten money. The U.S. opposes the idea...