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Annual Report on Exchange Arrangements and Exchange Restrictions 1958

Author : International Monetary Fund. External Relations Dept.

Publisher : International Monetary Fund

Page : 398 pages

File Size : 46,46 MB

Release : 1958-09-01

Category : Business & Economics

ISBN : 1475549318

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Book Description

This paper analyses relatively little overall progress in the formal relaxation of restrictions. Certainly, progress in this respect was much less than in the immediately preceding years. On the other hand, there was a significant strengthening of most internationally traded currencies, particularly in the opening months of 1958. The rates in free markets began to approximate the rates in official markets. In this respect, there was continued progress toward what is commonly called external convertibility, although the present position still falls short of formal external convertibility. In some countries, restrictions were relaxed to only a limited extent, partly because earlier relaxations had left only restrictions of a protective nature and partly because of the more complex nature of the economic trends which characterized the period. In the light of these trends and, more particularly, of the currency speculation which arose during the middle of the period, it is notable that most countries were able to defend the progress toward freer trade and payments which had been made earlier.













Annual Report on Exchange Arrangements and Exchange Restrictions 1959

Author : International Monetary Fund. External Relations Dept.

Publisher : International Monetary Fund

Page : 405 pages

File Size : 24,3 MB

Release : 1959-09-01

Category : Business & Economics

ISBN : 1475520689

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Book Description

This paper discusses economic and financial difficulties that will undoubtedly continue to confront them, although it is to be expected that renewed expansion in world trade will ease the decline in export earnings which they have recently suffered. Much effort will be needed nationally and internationally to create the conditions which will enable these countries to reap the full advantages of growth combined with domestic stability and external equilibrium. In this endeavor, those countries which conduct their transactions in convertible currencies, and which have relatively simple exchange systems, will be in a better position to cope with the financial problems arising out of urgent needs for development. Although many obstacles remain, there is in the world today an increased understanding of the issues involved, and the possibility of achieving the full benefits of a multilateral system is now greater than at any previous time in the IMF’s history.