Polak, J. J.

Some reflections on the nature of special drawing rights - Washington International Monetary Fund 1971 - 28 p.

The objectives intended to be achieved by the activation of the facility-as contained in the Fund's amended Articles of Agree ment-were summarized as follows in the Managing Director's proposal:

(a) Expansion of international trade, economic activity, and development;

(b) promotion of multilateral payments and elimination of restrictions;

(c) promotion of exchange stability and orderly exchange rate adjustments;

(d) correction of payments maladjustments and reduction in payments disequilibria without resort to measures destructive of national or international prosperity; [and]

(e) the avoidance of economic stagnation and deflation as well as excess demand and inflation in the world.


Financial economics

332.152 POL