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International Monetary Fund

Published online by Cambridge University Press:  22 May 2009

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Extract

The sixteenth annual report of the Executive Directors of the International Monetary Fund for the fiscal year ending April 30, 1961, was transmitted to the Chairman of the Board of Governors on June 23, 1961, by Mr. Per Jacobsson, Chairman of the Executive Board. The report stated that in contrast to the year 1959, when virtually all countries had participated in world-wide expansion, the year 1960 and early part of 1961 had presented a less unified picture. For the world as a whole, the expansionary elements had considerably outweighed the contractionary elements. World industrial production, excluding the countries of the Soviet area, had been almost 6 percent greater in 1960 than in 1959, having grown by 10 percent; and the value of world trade had increased by 12 percent, compared with 6 percent in 1959. The stimulus for the rise in world trade had come predominantly from the booming European industrial countries and from Japan, which had increased their imports by nearly 20 percent; there had been a slight decline in imports from the United States and Canada. The imports of the less-industrialized countries had also increased considerably, by some 10 percent. Trade developments during 1960 had improved the basic international payments situation in some respects. Rising exports and slightly declining imports caused an increase in the surplus of private goods and services account in the United States. West Germany's surplus also increased, while France's remained stationary; decreases had been noted in several other industrial countries, in particular Japan and Italy, where the rate of economic expansion had been exceptionally high, and in the United Kingdom, mainly due to the sharp growth of imports associated with their high level of economic activity.

Type
International Organizations: Summary of Activities: II. Specialized Agencies
Information
International Organization , Volume 16 , Issue 3 , Summer 1962 , pp. 619 - 631
Copyright
Copyright © The IO Foundation 1962

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References

1 International Monetary Fund, Annual Report of the Executive Directors for the Fiscal Year ended April 30, 1961, Washington, D.C., 1961Google Scholar. For a summary of the preceding annual report, see International Organization, Spring 1961 (Vol. 15, No. 2), p. 299–301CrossRefGoogle Scholar.

2 International Monetary Fund, Summary Proceedings of the Sixteenth Annual Meeting of the Board of Governors, 09 1961, Washington, D.C., 1961Google Scholar. For a summary of the fifteenth annual meeting, see International Organization, Spring 1961 (Vol. 15, No. 2), p. 301–303Google Scholar.

3 International Financial News Survey (hereafter cited as IFNS), 12 1, 1961 (Vol. 13, No. 47), p. 380Google Scholar. For a summary of previous activities of the Fund, see International Organization, Winter 1962 (Vol. 16, No. 1), p. 230–231CrossRefGoogle Scholar.

4 IFNS, 12 1, 1961 (Vol. 13, No. 47), p. 380Google Scholar.

5 International Monetary Fund, Press Release 373, December 8, 1961; see also IFNS, 12 15, 1961 (Vol 13, No. 49), p. 389Google Scholar.

6 International Monetary Fund, Press Release 374, December 8, 1961; see also IFNS, 12 15, 1961 (Vol. 13, No. 49), p. 389Google Scholar and footnote 16 below.

7 International Monetary Fund, Press Release 376, December 22, 1961; see also IFNS, 01 12, 1962 (Vol 14, No. 1), p. 2Google Scholar.

8 International Monetary Fund, Press Release 379, January 19, 1962; see also IFNS, 01 26, 1962 (Vol. 14, No. 3), p. 21Google Scholar.

9 International Monetary Fund, Press Release 383, February 28, 1962; see also IFNS, 03 2, 1962 (Vol 14, No. 8), p. 61Google Scholar.

10 International Monetary Fund, Press Release 386, March 26, 1962; see also IFNS, 03 30, 1962 (Vol. 14, No. 12), p. 93Google Scholar.

11 International Monetary Fund, Press Release 387, March 26, 1962; see also IFNS, loc. cit.

12 Ibid.

13 International Monetary Fund, Press Release 392, April 12, 1962; see also IFNS, 04 20, 1962 Vol. 14, No. 15), p. 117Google Scholar, and footnote 19 below.

14 International Monetary Fund, Press Release 394, May 7, 1962; see also IFNS, 05 11, 1962 Vol. 14, No. 18), p. 141Google Scholar.

15 International Monetary Fund, Press Release 398, June 6, 1962; see also IFNS, 06 15, 1962 Vol. 14, No. 23), p. 181Google Scholar.

16 International Monetary Fund, Press Release 399, June 7, 1962; see also IFNS, 06 15, 1962 Vol. 14, No. 23), p. 181Google Scholar, and also footnote 6 above.

17 International Monetary Fund, Press Release 378, January 9, 1962; see also IFNS, 01 12, 1962 (Vol. 14, No. 1), p. 2Google Scholar.

18 International Monetary Fund, Press Release 384, March 9, 1962; see also IFNS, 03 16, 1962 (Vol. 14, No. 10), p. 77Google Scholar.

19 International Monetary Fund, Press Release 380, January 21, 1962; see also IFNS, 01 26, 1962 (Vol. 14, No. 3), p. 21Google Scholar, and also footnote above.

20 International Monetary Fund, Press Release 382, February 27, 1962; see also IFNS, 03 1962 (Vol. 14, No. 8), p. 61Google Scholar.

21 International Monetary Fund, Press Release 385, March 22, 1962; see also IFNS, 03 30, 1962 (Vol. 14, No. 12), p. 98Google Scholar.

22 International Monetary Fund, Press Release 377, January 8, 1962; see also IFNS, 01 12, 1962 (Vol. 14, No. 1), p. 1–2Google Scholar.

23 International Monetary Fund, Press Release 390, March 28, 1962; see also IFNS, 03 30, 1962 (Vol. 14, No. 12), p. 93Google Scholar.

24 International Monetary Fund, Press Release 395, May 8, 1962; see also IFNS, 05 11, 1962 (Vol. 14, No. 18), p. 141Google Scholar.

25 International Monetary Fund, Press Release 396, May 25, 1962; see also IFNS, 06 1, 1962 (Vol. 14, No. 21), p. 165Google Scholar.

26 International Monetary Fund, Press Release 400, June 19, 1962; see also IFNS, 06 22, 1962 Vol. 14, No. 24), p. 189–190Google Scholar.

27 Ibid.

28 International Monetary Fund, Press Release 391, April 4, 1962; see also IFNS, 04 13, 1962 (Vol. 14, No. 14), p. 116Google Scholar.

29 International Monetary Fund, Press Release 81, February 9, 1962; see also IFNS, 02 1962 (Vol. 14, No. 6), p. 45Google Scholar.

30 International Monetary Fund, Press Release 393, May 2, 1962; see also IFNS, 05 4, 1962 Vol. 14, No. 17), p. 133Google Scholar.

31 International Monetary Fund, Press Release 397, June 4, 1962; see also IFNS, 06 8, 1962 Vol. 14, No. 22), p. 173Google Scholar.

32 International Monetary Fund, Press Release 375, December 21, 1961; see also IFNS, 01 1962 (Vol. 14, No. 1), p. 2Google Scholar.

33 International Monetary Fund, Press Release 389, March 28, 1962; see also IFNS, 04 6, 1962 Vol. 14, No. 13), p. 101Google Scholar.

34 IFNS, 12 1, 1961 (Vol. 13, No. 47), p. 380Google Scholar.

35 IFNS, 01 12, 1962 (Vol. 14, No. 1) p. 8Google Scholar.

36 IFNS, 02 9, 1962 (Vol. 14, No. 5), P. 44Google Scholar.

37 IFNS, 03 2, 1962 (Vol. 14, No. 8), 68Google Scholar.

38 IFNS, 03 30, 1962 (Vol. 14, No. 12), p. 100Google Scholar.

39 IFNS, 04 27, 1962 (Vol. 14, No. 16), p. 132Google Scholar.

40 IFNS, 06 1, 1962 (Vol. 14, No. 21), p. 172Google Scholar.