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" The Executive Directors of the International Monetary Fund interpret the Articles of Agreement to mean that authority to use the resources of the Fund is limited to use in accordance with its purposes to give temporary assistance in financing balance... "
Department of State Publication: International organization and conference ... - Página 186
por United States. Department of State - 1948
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United States Congressional Serial Set, Edição 11320

1949 - 1146 páginas
...In general, use of the resources of the Fund is limited, in accordance with its purposes, to giving temporary assistance in financing balance of payments...current account for monetary stabilization operations. On April 20, 1948, the Fund issued a policy statement on this subject which, in part, stated: For the...
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The World Bank since Bretton Woods

Edward S. Mason, Robert E. Asher - 2010 - 956 páginas
...Agreement of the IMF on this issue, the board of directors agreed that the Fund could be drawn against only to give "temporary assistance in financing balance...deficits on current account for monetary stabilization operations."37 The question came before the executive directors of the Bank, pursuant to resolution...
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Legal and institutional Aspects of the international Monetary System: 2 ...

International Monetary Fund - 1984 - 978 páginas
...balance of payments difficulty: The Executive Directors of the International Monetary Fund interpret the Articles of Agreement to mean that authority to...in accordance with its purposes to give temporary 51 JM Keynes, Bretton Woods, reprinted in Keynes, Collected Writings, Vol. 26, pp. 199202. 52 Ibid....
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Report on an international debt management authority

1988 - 192 páginas
...IMF agreed, at the time of the establishment of the Fund, "that the Fund could be drawn against only to give 'temporary assistance in financing balance...current account for monetary stabilization operations.'" Thus, establishing a debt facility within the IMF would probably require a significant modification...
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International Financial Policy: Essays in honor of Jacques J. Polak

Mr.Jacob A. Frenkel, Mr.Morris Goldstein - 1991 - 534 páginas
...resources. In response to the request, the IMF decided that use of the IMF's resources was "limited" to temporary assistance in financing balance of payments...deficits on current account for monetary stabilization operations.67 The interpretation ignored much language in the Articles on capital transfers and was...
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The New Sovereignty: Compliance with International Regulatory Agreements

Abram Chayes, Antonia Handler Chayes - 1998 - 440 páginas
...economics and in the fund's weighted voting scheme: the purpose for which IMF resources could be used was "to give temporary assistance in financing balance of payments deficits on current account." 62 "The word 'represents' ... means 'declares'... But the Fund may, for good reasons, challenge this...
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Current Developments in Monetary and Financial Law, Volume 2

International Monetary Fund - 2003 - 886 páginas
...that the concept of the Fund arrangement was born.16 15 For example, the Fund decided in 1946 that the "authority to use the resources of the Fund is limited...current account for monetary stabilization operations" (Pursuant to Decision No. 71-2, adopted September 26, 1946), reprinted in Selected Decisions and Selected...
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Current Developments in Monetary and Financial Law, Vol. 3

International Monetary Fund - 2005 - 1018 páginas
...its Articles of Agreement in 1946, the IMF's Executive Board had interpreted them "to mean that the authority to use the resources of the Fund is limited...deficits on current account for monetary stabilization operations."11 The IMF had no authority over its members' domestic policies, and economic growth was...
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The World Bank Legal Papers

Ibrahim F. I. Shihata - 2000 - 980 páginas
...interpretation, the IMF Board of Executive Directors affirmed that the Fund's resources could only be used "to give temporary assistance in financing balance of payments deficits on current accounts for monetary stabilization operations."7 The implication was that long term stabilization...
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Saving International Capitalism During the Early Truman Presidency: The ...

Kevin M. Casey - 2001 - 268 páginas
...executive directors' response represented a triumph for the US position. The executive directors determined "that authority to use the resources of the Fund is...current account for monetary stabilization operations." This ruling insured that the executive directors would be directly involved in distributing IMF currencies...
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