The countries of Eastern Europe need to raise considerable finance not only in order to improve their balances of payments but also to adjust the structure of their economies over the long term to changed internal and external conditions. The adjustment measures require capital, but the Eastern...

Is the International Monetary Fund (IMF) the mainstay of the international monetary system? Or is it an insignificant sideshow? Might its actions, or its very existence, even be harmful? The fortieth anniversary of the Bretton Woods Agreement, which was signed by 44 states on 22 July 1944,...

The adjustment crisis of the oil-importing developing countries has raised the question as to the specific roles of the IMF and the World Bank in the process of structural adjustment and the actual relationship between their different concepts and programmes. What are the areas of cooperation...

The International Monetary Fund is at present examining the possibility of borrowing on private capital markets in order to meet its growing refinancing needs. Reservations concerning such a step have been voiced in particular by the oil-importing developing countries. Professor Konrad analyses...

Among the various limitations put by the IMF on the free use of Special Drawing Rights (SDRs) is the reconstitution requirement which binds participants in the Special Drawing Account to maintain a stipulated average level of allocated SDRs. Using the example of Zambia which is representative...

Although the main responsibility for carrying out economic reforms in the countries of Central and Eastern Europe lies with these countries themselves, the transformation of the Soviet-style economic system into a market economy must be made easier by support from abroad. In this the...