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International Monetary Fund

Published online by Cambridge University Press:  22 May 2009

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Extract

On September 16, 1959, the International Monetary Fund announced that 40 members, including most recently Bolivia, Ethiopia, Honduras, Libya, Malaya, and Peru, had consented to increases in their Fund's quotas by amounts ranging from 50 to 100 percent. This was in response to a recommendation by the Directors of the Fund arising out of the thirteenth annual meeting of the Governors of the Fund, held in New Delhi in October 1958. The Fund extended to July 31, 1960, the period within which the rest of its 68-nation membership might accept increases in its quotas. Some of these countries had already communicated consents to the Fund which would become effective upon the completion of certain formalities. The Fund's assets, which, as of January 31, 1959, amounted to the equivalent of $9.2 billion, would be enlarged by the recommended increases by the equivalent of $5.8 billion.

Type
International Organizations: Summary of Activities II. Specialized Agencies
Information
International Organization , Volume 14 , Issue 1 , Winter 1960 , pp. 210 - 211
Copyright
Copyright © The IO Foundation 1960

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References

1 International Monetary Fund, Press Release No. 305, September 16, 1959; see also International Financial News Survey (hereafter cited as IFNS), 09 18, 1959 (Vol. 12, No. 12), p. 89Google Scholar. For a summary of previous activities of the Fund, see International Organization, Autumn 1959 (Vol. 13, No. 4), p. 646–648.Google Scholar

2 For a summary of the thirteenth annual meeting, see International Organization, Spring 1959 (Vol. 13, No. 2), p. 318–319.Google Scholar

3 IFNS, 09 4, 1959 (Vol. 12, No. 10), p. 80.Google ScholarPubMed

4 Ibid., October 9, 1959 (Vol. 12, No. 15), p. 124.

5 Ibid., November 6, 1959 (Vol. 12, No. 19), p. 156.

6 Ibid., October 9, 1959 (Vol. 12, No. 15), p. 124.

7 Ibid., November 6, 1959 (Vol. 12, No. 19), p. 156.

8 Ibid., October 9, 1959 (Vol. 12, No. 15), p. 124.

9 Ibid., October 30, 1959 (Vol. 12, No. 18), p. 141.

10 International Monetary Fund, Press Release No. 307, October 17, 1959.

11 IFNS, 10 23, 1959 (Vol. 12, No. 17), p. 133.Google ScholarPubMed