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International Monetary Fund

Published online by Cambridge University Press:  22 May 2009

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Extract

On June 7, 1960, it was announced that the government of Guatemala had entered into a one-year stand-by arrangement with the International Monetary Fund authorizing drawings up to $15 million in support of the country's currency. The purpose of the arrangement was to help Guatemala maintain the traditional stability of the quetzal by providing a second line of reserves to supplement other stabilization measures, such as an increase of reserve requirements against bank deposits, limitations on central bank rediscounts, and a further reduction of government expenditures. Guatemala, with a quota of $15 million, had not previously drawn upon the Fund's resources.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 14 , Issue 4 , Fall 1960 , pp. 668 - 669
Copyright
Copyright © The IO Foundation 1960

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References

1 International Monetary Fund, Press Release No. 322, June 7, 1960; see also International Financial News Survey (hereafter cited as IFNS), 06 10, 1960 (Vol. 12, No. 48), p. 381.Google Scholar For a summary of previous activities of the Fund, see International Organization, Summer 1960 (Vol. 14, No. 3), p. 468–472Google Scholar.

2 IFNS, 06 3, 1960 (Vol. 12, No. 47), p. 374Google ScholarPubMed.

3 Ibid., July 8, 1960 (Vol. 12. No. 52), p. 413–414.

4 Ibid., August 5, 1960 (Vol. 12, No. 56), p. 446.

5 Ibid., June 3, 1960 (Vol. 12, No. 47), p. 374.

6 Ibid., July 8, 1960 (Vol. 12, No. 52), p. 413.

7 Ibid., August 5, 1960 (Vol. 12, No. 56), p. 445–446. For a summary of these resolutions, see International Organization, Spring 1959 (Vol. 13, No. 2), p. 319Google Scholar.

8 International Monetary Fund, Press Release No. 323, August 20, 1960; see also IFNS, 08 26, 1960 (Vol. 12, No. 59), p. 469Google ScholarPubMed.

9 IFNS, 08 5. 1960 (Vol. 12, No. 56), p. 446Google ScholarPubMed.