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.