Since March 1973 virtually all major currencies or currency blocs have been floating. As a result - so it seemed - controls over international capital movements would become less important. But any hopes for a lasting liberalization of capital movements at flexible rates of exchange must be kept...

The International Tin Council (ITC) has, by setting up a "Preparatory Committee", once more given the starting signal for the preparation of a new International Tin Agreement (ITA). The intention is that the new agreement should take over from the current 6th ITA when it expires on 30th June,...